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Beliebt Word Problems >

After 10 years, you have \$8099.15 in an account that compounded continuously at a rate of 3% annual interest rate. How much money did you have in the account when you opened it?

Lösung

A f t er 10 ye a rs, yo u ha v e $8099.15 in an a cco u n t t ha t co m p o u n d e d co n t in u o u s l y a t a r a t e o f 3% ann u a l in t eres t r a t e . Ho w m u c h m o n ey d i d yo u ha v e in t h e a cco u n t w h e n yo u o p e n e d i t ?

Lösung

Principal : 6000

Schritte zur Lösung

Translate the problem into an equation:

8099.15 = P e^{0.03 \cdot 10}

Löse nach

P, 8099.15 = P e^{0.03 \cdot 10} : P = 6000

Principal : 6000

Beliebte Beispiele

at what rate percent per annum will a some of R640 amount to R774.40 in 2 years,compounded annually Suppose that 7000 is placed in an account that pays 3% interest compounded each year.Assume that no withdrawals are made from the account. Do not do any rounding. Find the amount in the account at the end of 1 year.What is the fläche of a triangle with a height of 11 cm and a base of 2 cm?the sum of 6 times a number and 9 is equal to2 kreis has area 40 square feet. Find the radius. Round your answer to one decimal place, if necessary. The radius of the kreis is feet.