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Popular Word Problems >

If 190 is invested at an interest rate of 11% per year and is compounded continuously, how much will the investment be worth in 4 years?

Solution

I f 190 i s in v es t e d a t an in t eres t r a t e o f 11% 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 4 ye a rs ?

Solution

Amount : 295.01

Solution steps

Translate the problem into an equation:

A = 190 e^{0.11 \cdot 4}

190 e^{0.11 \cdot 4} = 295.01437 \dots

Round to the nearest hundredth:

295.01

Amount : 295.01

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