Akira earned some money doing odd jobs last summer and put it in a savings account that earns 10% interest compounded continuously. After 1 year, there is 200.00 in the account. How much did Akira earn doing odd jobs?

Solution

Solution

Principal : 180.97

Solution steps

Translate the problem into an equation:

200 = P e^{0.1 \cdot 1}

Solve for

P, 200 = P e^{0.1 \cdot 1} : P = 180.97

Principal : 180.97

Popular Examples

Bernie buys a bottle of perfume priced at \$16. If the sales tax is 4%,what will be the total cost including tax?The sum of 6 consecutive numbers is 204. What are the numbers The radius of a circle is 1 inch. What is the area?Kenny earned some money doing odd jobs last summer and put it in a savings account that earns 2% interest compounded monthly. After 4 years, there is 700.00 in the account. How much did Kenny earn doing odd jobs?Harry buys a kitchen table priced at 90. If the sales tax is 5%,how much tax will Harry pay?