Angela deposits 1500 into an account with an APR of 3.8% for 8 years. Find the future value of the account if interest is compounded continuously. Round your answer to the nearest hundredth.

Solución

Solución

Amount : 2032.9

Pasos de solución

Translate the problem into an equation:

A = 1500 e^{0.038 \cdot 8}

1500 e^{0.038 \cdot 8} = 2032.90358 \dots

Round to the nearest hundredth:

2032.9

Amount : 2032.9

Ejemplos populares

The The radio of a circle is 11 in. Find its area in terms of pipi.The product of two consecutive odd integers is 99. Find the integers. Answer only with the positive integers. For example, if the integers are 8 and 10, and −8 and −10, answer 8 and 10.The quotient of 30 and five more than a number is twelve.Find the number.The sum of the two numbers is 22, and the product of these two numbers is 120. What are the numbers?Gabe deposits 7,000 in a certificate of deposit. The annual interest rate is 4% , and the interest will be compounded quarterly. How much will the certificate be worth in 5 years?