Popular >

Moneysaver's Bank offers a savings account that earns 2.5% interest per year, compounded continuously. If Christine deposits 3300, how much will she have in the account after two years, assuming she makes no withdrawals?

Solution

Solution

Amount : 3469.19

Solution steps

Translate the problem into an equation:

A = 3300 e^{0.025 \cdot 2}

3300 e^{0.025 \cdot 2} = 3469.19461 \dots

Round to the nearest hundredth:

3469.19

Amount : 3469.19

Popular Examples

Five times the difference of twice a number and 6 is-2 three more than the product of a number and 4 is equal to 2 Acar is travelling at a constant speed of 68km/h How far will it travel in 3.5 hours?fourteen less than two times a number x is twenty six Hans borrowed money from a credit union for 2 years and was charged simple interest at an annual rate of 9 percent. The total interest that he paid was 126\$. How much money did he borrow?