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Beliebt Word Problems >

Mary earned some money doing odd jobs last summer and put it in a savings account that earns 4% interest compounded continuously. After 1 year, there is 600.00 in the account. How much did Mary earn doing odd jobs?

Lösung

M a ry e a r n e d so m e m o n ey d o in g o dd j o b s l a s t s u mm er an d p u t i t in a s a v in g s a cco u n t t ha t e a r n s 4% in t eres t co m p o u n d e d co n t in u o u s l y . A f t er 1 ye a r, t h ere i s 600.00 in t h e a cco u n t . Ho w m u c h d i d M a ry e a r n d o in g o dd j o b s ?

Lösung

Principal : 576.47

Schritte zur Lösung

Translate the problem into an equation:

600 = P e^{0.04 \cdot 1}

Löse nach

P, 600 = P e^{0.04 \cdot 1} : P = 576.47

Principal : 576.47

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