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Popular Word Problems >

Find the accumulated value of an investment of 7000 at 7% compounded continuously for 3 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 7000 a t 7% co m p o u n d e d co n t in u o u s l y f or 3 ye a rs .

Solution

Amount : 8635.75

Solution steps

Translate the problem into an equation:

A = 7000 e^{0.07 \cdot 3}

7000 e^{0.07 \cdot 3} = 8635.74641 \dots

Round to the nearest hundredth:

8635.75

Amount : 8635.75

Popular Examples

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