en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Reggie puts 4,000.00 into an account to use for school expenses. The account earns 9% interest, compounded continuously. How much will be in the account after 8 years?

Solution

R e gg i e p u t s 4, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 9% in t eres t, co m p o u n d e d co n t in u o u s l y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 8 ye a rs ?

Solution

Amount : 8217.73

Solution steps

Translate the problem into an equation:

A = 4000 e^{0.09 \cdot 8}

4000 e^{0.09 \cdot 8} = 8217.73284 \dots

Round to the nearest hundredth:

8217.73

Amount : 8217.73

Popular Examples

the quotient of a number and 7 The sum of two numbers is 31. One number is 15 less than the other. Find the numbers.The smaller number is: The larger number is:Reagan is saving up money to buy a car. Reagan puts 7,000.00 into an account which earns 12% interest, compounded quarterly. How much will she have in the account after 3 years?The product of two consecutive integers is 143.40% of what number is 15?Percent problem