en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Lucy invested 30, 000 in an account paying an interest rate of 6.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, would be in the account after 9 years?

Solution

Lu cy in v es t e d 30, 000 in an a cco u n t p a y in g an in t eres t r a t e o f 6.6% co m p o u n d e d co n t in u o u s l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey, w o u l d b e in t h e a cco u n t a f t er 9 ye a rs ?

Solution

Amount : 54336.56

Solution steps

Translate the problem into an equation:

A = 30000 e^{0.066 \cdot 9}

30000 e^{0.066 \cdot 9} = 54336.56460 \dots

Round to the nearest hundredth:

54336.56

Amount : 54336.56

Popular Examples

If a dice is rolled twice, what is the probability it will land on 1 and then 6?card is taken out at random from a pack of 52 cards. A second card is selected without replacing the first one. Find the probability that the first card chosen is jack of club and the second card chosen is the king of spades?thrice a number decreased by four is negative twenty one 2.2% of what number is 44 Devaughn is 10 years older than Sydney. The sum of their ages is 102 What is Sydney's age?