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Popular Word Problems >

Mia invested 640 in an account paying an interest rate of 6.7% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 940?

Solução

M ia in v es t e d 640 in an a cco u n t p a y in g an in t eres t r a t e o f 6.7% 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 l o n g w o u l d i t t ak e, t o t h e n e a res t ye a r, f or t h e v a l u e o f t h e a cco u n t t o re a c h 940 ?

Solução

Time : 5.74

Passos da solução

Translate the problem into an equation:

940 = 640 e^{0.067 t}

Resolver para

t, 940 = 640 e^{0.067 t} : t = 5.74

Time : 5.74

Exemplos populares

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