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Popular Word Problems >

Mario invested 280 at 8% interest compounded continuously. Write the exponential function to represent the situation and at what time will the total reach 1,000,000?

Solution

M a r i o in v es t e d 280 a t 8% in t eres t co m p o u n d e d co n t in u o u s l y . W r i t e t h e e x p o n e n t ia l f u n c t i o n t o re p rese n t t h e s i t u a t i o n an d a t w ha t t im e w i ll t h e t o t a l re a c h 1, 000, 000 ?

Solution

Time : 102.26

Solution steps

Translate the problem into an equation:

1000000 = 280 e^{0.08 t}

Solve for

t, 1000000 = 280 e^{0.08 t} : t = 102.26

Time : 102.26

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