Aubrey opened a savings account and deposited 300.00. The account earns 14% interest, compounded continuously. If she wants to use the money to buy a new bicycle in 2 years, how much will she be able to spend on the bike?

Solución

Solución

Amount : 396.94

Pasos de solución

Translate the problem into an equation:

A = 300 e^{0.14 \cdot 2}

300 e^{0.14 \cdot 2} = 396.93894 \dots

Round to the nearest hundredth:

396.94

Amount : 396.94

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