it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Oliver deposited 7,000.00 into a new savings account that earns interest compounded continuously. After 1 year, the balance in the account was 7,690.00. What was the interest rate on the account?

Soluzione

Ol i v er d e p os i t e d 7, 000.00 in t o a n e w s a v in g s a cco u n t t ha t e a r n s in t eres t co m p o u n d e d co n t in u o u s l y . A f t er 1 ye a r, t h e ba l an ce in t h e a cco u n t w a s 7, 690.00. Wha t w a s t h e in t eres t r a t e o n t h e a cco u n t ?

Soluzione

Rate : 9.40106 \dots %

Fasi della soluzione

Translate the problem into an equation:

7690 = 7000 e^{r \cdot 1}

Risolvi per

r, 7690 = 7000 e^{r \cdot 1} : r = 9.40106 \dots %

Rate : 9.40106 \dots %

Esempi popolari

Hansen opened a savings account and deposited 700.00. The account earns 9% interest, compounded monthly. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?Joseph invested 16,000 in an account paying an interest rate of 5.7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 14 years?simplest number 3/4+2/5 The diameter of a circle is 38 inches. What is the circle's circonferenza?Twelve more than 3 times a number is 33.