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Popular Word Problems >

Find the accumulated value of an investment of 1000 at 7.5% compounded continuously for 6 years.

Solution

solve for

t h e a cc u m u l a t e d v a l u e o f an in v es t m e n t o f 1000 a t 7.5% co m p o u n d e d co n t in u o u s l y f or 6 ye a rs .

Solution

Amount : 1568.31

Solution steps

Translate the problem into an equation:

A = 1000 e^{0.075 \cdot 6}

1000 e^{0.075 \cdot 6} = 1568.31218 \dots

Round to the nearest hundredth:

1568.31

Amount : 1568.31

Popular Examples

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