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شائع Word Problems >

You want to have 800,000 when you retire in 15 years. If you can earn 4% interest compounded continuously, how much would you need to deposit now into the account to reach your retirement goal?

الحلّ

Y o u w an t t o ha v e 800, 000 w h e n yo u re t i re in 15 ye a rs . I f yo u c an e a r n 4% in t eres t co m p o u n d e d co n t in u o u s l y, h o w m u c h w o u l d yo u n ee d t o d e p os i t n o w in t o t h e a cco u n t t o re a c h yo u r re t i re m e n t g o a l ?

الحلّ

Principal : 439049.31

خطوات الحلّ

Translate the problem into an equation:

800000 = P e^{0.04 \cdot 15}

800000 = P e^{0.04 \cdot 15}, P

حلّ لـ:

P = 439049.31

Principal : 439049.31

أمثلة شائعة

423% of what number is 88.83 ten is equal to two times a number plus 3.6 Caleb puts 500.00 into an account to use for school expenses. The account earns 8% interest, compounded monthly. How much will be in the account after 6 years?Four increased by the product of a number and 2 is greater than 24 Victor's age is three more than twice Jake's age. Three years ago, Victor was four times as old as Jake was then. How old are they now?