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Popular Word Problems >

Find the accumulated value of an investment of 9000 at 5.5% compounded continuously for 3 years.Question 8 options:

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 9000 a t 5.5% 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 . Q u es t i o n 8 o pt i o n s :

Solution

Amount : 10614.54

Solution steps

Translate the problem into an equation:

A = 9000 e^{0.055 \cdot 3}

9000 e^{0.055 \cdot 3} = 10614.53806 \dots

Round to the nearest hundredth:

10614.54

Amount : 10614.54

Popular Examples

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