Sharon puts 400.00 into an account to use for school expenses. The account earns 8% interest, compounded continuously. How much will be in the account after 6 years?

Solution

Solution

Amount : 646.43

Solution steps

Translate the problem into an equation:

A = 400 e^{0.08 \cdot 6}

400 e^{0.08 \cdot 6} = 646.42976 \dots

Round to the nearest hundredth:

646.43

Amount : 646.43

Popular Examples

Elise works at a lab with a huge circular particle accelerator. It has a radius of 2 miles. What is the accelerator's diameter?The sum of five consecutive odd integers equals 33 more than twice the third. FInd the integers 17/12 as a mixer number Find the final amount of money in an account if 7,200 is deposited at 7% interest compounded semi annually and the money is left for 5 years.The sum of three numbers is 91. The first number is 9 less than the second. The third number is 3 times the second. What are the numbers?