Francesco invested a principal amount of 3736.00 with a rate of 5% that compounds continuously.It has been accruing interest for 77 years.What total value does Francesco now have?

Solution

Solution

Amount : 175566.08

Solution steps

Translate the problem into an equation:

A = 3736 e^{0.05 \cdot 77}

3736 e^{0.05 \cdot 77} = 175566.08423 \dots

Round to the nearest hundredth:

175566.08

Amount : 175566.08

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