What is the future value after 12 years if you deposit 1, 000 for your child's education and the interest is guaranteed at 1.6% compounded continuously?

Lời Giải

Lời Giải

Amount : 1211.67

Các bước giải pháp

Translate the problem into an equation:

A = 1000 e^{0.016 \cdot 12}

1000 e^{0.016 \cdot 12} = 1211.67051 \dots

Làm tròn đến hundredth gần nhất:

1211.67

Amount : 1211.67

Ví dụ phổ biến

Gabrielle puts 8,000.00 into an account to use for school expenses. The account earns 2% interest, compounded quarterly. How much will be in the account after 5 years?2 increased by 5 times a number Two fair coins are tossed together. Find the probability of getting: chính xácly one tail and at least one tail.2 plus thrice the same number Shawn opened a savings account and deposited 2,159.00 as principal. The account earns 9.41% interest, compounded quarterly. What is the balance after 2 years?