Chloe invests 6,313 in a savings account with a fixed annual interest rate of 2%compounded continuously. What will the account balance be after 9 years?

Solución

Chloe invests 6, 313 in a savings account with a fixed annual interest rate of 2%compounded continuously. What will the account balance be after 9 years?

Solución

Amount : 7558.03

Pasos de solución

Translate the problem into an equation:

A = 6313 e^{0.02 \cdot 9}

6313 e^{0.02 \cdot 9} = 7558.03321 \dots

Round to the nearest hundredth:

7558.03

Amount : 7558.03

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