Natalie invested 1,200 in an account paying an interest rate of 6.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 17 years?

Solución

Natalie invested 1, 200 in an account paying an interest rate of 6.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 17 years?

Solución

Amount : 3562

Pasos de solución

Translate the problem into an equation:

A = 1200 e^{0.064 \cdot 17}

1200 e^{0.064 \cdot 17} = 3561.99776 \dots

Round to the nearest hundredth:

3562

Amount : 3562

Ejemplos populares

if the perimeter of the square is 48cm then find the área of the square A number increased by 11 is 2 times the sum of the number and 1.To pay for new machinery in 7 years, a company owner invests 20,000 at 7.5% compounded quarterly. How much money will be available in 7 years? Round your answer to the nearest cent.twice the difference of a number and 9 is two A reindeer runs 2014 miles in 3 hours. At that rate, how many miles does it run in 1 hour?