Suppose that 2600 is borrowed for three years at an interest rate of 5.5% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end

Solución

Solución

Amount : 3066.42

Pasos de solución

Translate the problem into an equation:

A = 2600 e^{0.055 \cdot 3}

2600 e^{0.055 \cdot 3} = 3066.42210 \dots

Round to the nearest hundredth:

3066.42

Amount : 3066.42

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