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Populaire Word Problems >

If 396 is invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years?

Solution

I f 396 i s in v es t e d a t an in t eres t r a t e o f 13% p er ye a r an d i s co m p o u n d e d co n t in u o u s l y, h o w m u c h w i ll t h e in v es t m e n t b e w or t h in 3 ye a rs ?

Solution

Amount : 584.88

étapes des solutions

Translate the problem into an equation:

A = 396 e^{0.13 \cdot 3}

396 e^{0.13 \cdot 3} = 584.88439 \dots

Arrondir à hundredth la plus proche:

584.88

Amount : 584.88

Exemples populaires

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