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Popular Word Problems >

Find the accumulated amount after 3 years if 3000 is invested at 6%/year compounded continuously.

Solution

solve for

t h e a cc u m u l a t e d am o u n t a f t er 3 ye a rs i f 3000 i s in v es t e d a t 6%/ ye a r co m p o u n d e d co n t in u o u s l y .

Solution

Amount : 3591.65

Solution steps

Translate the problem into an equation:

A = 3000 e^{0.06 \cdot 3}

3000 e^{0.06 \cdot 3} = 3591.65208 \dots

Round to the nearest hundredth:

3591.65

Amount : 3591.65

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