Solution
Taylor invested 11, 000 in an account paying an interest rate of 3.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 14 years?
Solution
Solution steps
Translate the problem into an equation:
Round to the nearest hundredth:
Popular Examples
six less than 5 times a number is gives 14You deposit 4000 in an account earning 5% interest compounded continuously. How much will you have in the account in 15 years?Six years ago, Sally was 12 years younger than thrice her sister's age. How old is Sally if she is twice as old as her sister now?Find three consecutive odd integers whose sum is −249Bill is four times as old as Lily. Two years from now, Bill will be nine times as old as Lily was two years ago. Find their present ages.