en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

Given the formula A = Pe^{rt}, find the amount of money accumulated if you invested 85,000 at 7.3% interest for 10 years compounded continuously

Solution

Given the formula A = Pe^{rt}, find the amount of money accumulated if you invested 85, 000 at 7.3% interest for 10 years compounded continuously

Solution

Amount : 176381.85

Solution steps

Translate the problem into an equation:

A = 85000 e^{0.073 \cdot 10}

85000 e^{0.073 \cdot 10} = 176381.85165 \dots

Round to the nearest hundredth:

176381.85

Amount : 176381.85

Popular Examples

Find the radius of the sphere if the volume is 24pi Four consecutive even integers sum to 20. What is the value of the least integer?25 plus what number equals 30?Maraheb’s parents invested 14, 000 at 3% interest compounded quarterly. How much money will be in the account after 10 years growth or decay The diameter of a circle is 10 in. Find its area in terms of f pipi.