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Beliebt Word Problems >

If 9000 is invested at 3% compounded continuously, what is the amount after 8 years?

Lösung

I f ​9000 i s in v es t e d a t 3​% co m p o u n d e d ​ co n t in u o u s l y, w ha t i s t h e am o u n t a f t er 8 ​ ye a rs ?

Lösung

Amount : 11441.24

Schritte zur Lösung

Translate the problem into an equation:

A = 9000 e^{0.03 \cdot 8}

9000 e^{0.03 \cdot 8} = 11441.24235 \dots

Round to the nearest hundredth:

11441.24

Amount : 11441.24

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