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شائع Word Problems >

Suppose an investment earns 2.9% interest compounded continuously. Find the future value of a 5900 investment after 12 years. Round your answer to the nearest cent, if necessary.

الحلّ

S u pp ose an in v es t m e n t e a r n s 2.9% in t eres t co m p o u n d e d co n t in u o u s l y . F in d t h e f u t u re v a l u e o f a 5900 in v es t m e n t a f t er 12 ye a rs . R o u n d yo u r an s w er t o t h e n e a res t ce n t, i f n ecess a ry .

الحلّ

Amount : 8355.77

خطوات الحلّ

Translate the problem into an equation:

A = 5900 e^{0.029 \cdot 12}

5900 e^{0.029 \cdot 12} = 8355.77027 \dots

Round to the nearest hundredth:

8355.77

Amount : 8355.77

أمثلة شائعة

three times a number, plus 6.4, is 13.9 Lily opened a savings account and deposited 763.00 as principal. The account earns 6% interest, compounded monthly. What is the balance after 8 years?8 years ago, Chad won some money in the lottery and put it in a bank account that earns 2% interest compounded annually. If Chad currently has 100.00 in the bank account, how much interest has he earned?Austen puts 4,347.00 into an account to use for school expenses. The account earns 8.88% interest, compounded annually. How much will be in the account after 10 years?8 times a number plus 15 to equal to 6 times the number minus 41. find number