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Rosanne is saving up money to buy a car. Rosanne puts 10,000.00 into an account which earns 10% interest, compounded continuously. How much will she have in the account after 3 years?

Solution

Rosanne is saving up money to buy a car. Rosanne puts 10, 000.00 into an account which earns 10% interest, compounded continuously. How much will she have in the account after 3 years?

Solution

Amount : 13498.59

Solution steps

Translate the problem into an equation:

A = 10000 e^{0.1 \cdot 3}

10000 e^{0.1 \cdot 3} = 13498.58807 \dots

Round to the nearest hundredth:

13498.59

Amount : 13498.59

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