Aaliyah invested 350 in an account paying an interest rate of 4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 20 years?

Solução

Solução

Amount : 778.94

Passos da solução

Translate the problem into an equation:

A = 350 e^{0.04 \cdot 20}

350 e^{0.04 \cdot 20} = 778.93932 \dots

Round to the nearest hundredth:

778.94

Amount : 778.94

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