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Popolare Word Problems >

Camila invested 9100 in an account paying an interest rate of 4.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money would be in the account after 14 years

Soluzione

C ami l a in v es t e d 9100 in an a cco u n t p a y in g an in t eres t r a t e o f 4.6% co m p o u n d e d co n t in u o u s l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey w o u l d b e in t h e a cco u n t a f t er 14 ye a rs

Soluzione

Amount : 17327.15

Fasi della soluzione

Translate the problem into an equation:

A = 9100 e^{0.046 \cdot 14}

9100 e^{0.046 \cdot 14} = 17327.14615 \dots

Arrotondare all' hundredth più vicino:

17327.15

Amount : 17327.15

Esempi popolari

The product of 4 and a number decreased by 20 equals the product of 6 and a number increased by 6.The radius of a cerchio is 14 cm. Find its area in terms of Translate the sentence into algebraic symbols. Five less than the quotient of a number and four is seven.The sum of two numbers is 98. The differenza of the same two numbers is 40. What are the numbers?A person places 133 in an investment account earning an annual rate of 5.8%, compounded continuously. Using the formula V, equals, P, e, start superscript, r, t, end superscriptV=Pe^{rt}, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 9 years