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Beliebt Word Problems >

Matthew invested 5,800 in an account paying an interest rate of 4.9% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 7 years?

Lösung

M a tt h e w in v es t e d 5, 800 in an a cco u n t p a y in g an in t eres t r a t e o f 4.9% co m p o u n d e d co n t in u o u s l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey, t o t h e n e a res t ce n t, w o u l d b e in t h e a cco u n t a f t er 7 ye a rs ?

Lösung

Amount : 8173.18

Schritte zur Lösung

Translate the problem into an equation:

A = 5800 e^{0.049 \cdot 7}

5800 e^{0.049 \cdot 7} = 8173.17881 \dots

Round to the nearest hundredth:

8173.18

Amount : 8173.18

Beliebte Beispiele

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