Grace is saving up money to buy a car. Grace puts 7,000.00 into an account which earns 12% interest, compounded continuously. How much will she have in the account after 6 years?

Solución

Grace is saving up money to buy a car. Grace puts 7, 000.00 into an account which earns 12% interest, compounded continuously. How much will she have in the account after 6 years?

Solución

Amount : 14381.03

Pasos de solución

Translate the problem into an equation:

A = 7000 e^{0.12 \cdot 6}

7000 e^{0.12 \cdot 6} = 14381.03247 \dots

Round to the nearest hundredth:

14381.03

Amount : 14381.03

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