Evan invests 5,358 in a retirement account with a fixed annual interest rate of 6% compounded continuously. What will the account balance be after 17 years?

Solución

Evan invests 5, 358 in a retirement account with a fixed annual interest rate of 6% compounded continuously. What will the account balance be after 17 years?

Solución

Amount : 14858.78

Pasos de solución

Translate the problem into an equation:

A = 5358 e^{0.06 \cdot 17}

5358 e^{0.06 \cdot 17} = 14858.77754 \dots

Round to the nearest hundredth:

14858.78

Amount : 14858.78

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