Juan and Lara deposit 700.00 into a savings account which earns 5% interest compounded continuously. They want to use the money in the account to go on a trip in 2 years. How much will they be able to spend?

Solución

Solución

Amount : 773.62

Pasos de solución

Translate the problem into an equation:

A = 700 e^{0.05 \cdot 2}

700 e^{0.05 \cdot 2} = 773.61964 \dots

Round to the nearest hundredth:

773.62

Amount : 773.62

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