Charlie puts 700.00 into an account to use for school expenses. The account earns 5% interest, compounded continuously. How much will be in the account after 10 years?

Solución

Solución

Amount : 1154.1

Pasos de solución

Translate the problem into an equation:

A = 700 e^{0.05 \cdot 10}

700 e^{0.05 \cdot 10} = 1154.10488 \dots

Round to the nearest hundredth:

1154.1

Amount : 1154.1

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