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Popolare Word Problems >

Reggie puts 4,000.00 into an account to use for school expenses. The account earns 9% interest, compounded continuously. How much will be in the account after 8 years?

Soluzione

R e gg i e p u t s 4, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 9% in t eres t, co m p o u n d e d co n t in u o u s l y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 8 ye a rs ?

Soluzione

Amount : 8217.73

Fasi della soluzione

Translate the problem into an equation:

A = 4000 e^{0.09 \cdot 8}

4000 e^{0.09 \cdot 8} = 8217.73284 \dots

Arrotondare all' hundredth più vicino:

8217.73

Amount : 8217.73

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