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Beliebt Word Problems >

Suppose an investment earns 2.5% interest compounded continuously. Find the future value of a 2300 investment after 24 years. Round your answer to the nearest cent, if necessary.

Lösung

S u pp ose an in v es t m e n t e a r n s 2.5% 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 2300 in v es t m e n t a f t er 24 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 .

Lösung

Amount : 4190.87

Schritte zur Lösung

Translate the problem into an equation:

A = 2300 e^{0.025 \cdot 24}

2300 e^{0.025 \cdot 24} = 4190.87324 \dots

Round to the nearest hundredth:

4190.87

Amount : 4190.87

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