Noah is going to invest in an account paying an interest rate of 7% compounded continuously. How much would Noah need to invest, to the nearest hundred dollars, for the value of the account to reach 12,900 in 10 years?

解答

Noah is going to invest in an account paying an interest rate of 7% compounded continuously. How much would Noah need to invest, to the nearest hundred dollars, for the value of the account to reach 12, 900 in 10 years?

解答

Principal : 6405.95

求解步骤

Translate the problem into an equation:

12900 = P e^{0.07 \cdot 10}

求解

P, 12900 = P e^{0.07 \cdot 10} : P = 6405.95

Principal : 6405.95

流行的例子

Eight times the sum of a number and 6 equals 2 Twice the sum of a number and 5.Rob has 5,000 in an account that earns 2% interest compounded annually.To the nearest cent, how much will he have in 5 years?Ingrid deposits 10,000 in an IRA. What will be the value of her investment in 6 years if the investment is earning 3.2% per year and is compounded continuously? Round to the nearest cent.Josiah invested 96,000 in an account paying an interest rate of 3.5% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 153,400?