You deposit 3000 in an account earning 4% interest compounded continuously. How much money will you have in the account in 5 years? round to the nearest hundredth.

Solución

Solución

Amount : 3664.21

Pasos de solución

Translate the problem into an equation:

A = 3000 e^{0.04 \cdot 5}

3000 e^{0.04 \cdot 5} = 3664.20827 \dots

Round to the nearest hundredth:

3664.21

Amount : 3664.21

Ejemplos populares

You want to have 100,000 when you retire in 10 years. If you can earn 5% interest compounded monthly, how much would you need to deposit now into the account to reach your retirement goal?suzie has 4 apples sam steals 2 how many does she have Each notebook contains 60 sheets of paper. Andre has 5 notebooks. How many Find the future value and interest earned if 8704.56 is invested for 9 years at 6% compounded semiannually.The circunferencia of a circle is 16𝜋 centimeters. What is the area?