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Beliebt Word Problems >

Given the formula A = Pe^{rt}, find the amount of money accumulated if you invested 85,000 at 7.3% interest for 10 years compounded continuously

Lösung

G i v e n t h e f or m u l a A = P e^{r t}, f in d t h e am o u n t o f m o n ey a cc u m u l a t e d i f yo u in v es t e d 85, 000 a t 7.3% in t eres t f or 10 ye a rs co m p o u n d e d co n t in u o u s l y

Lösung

Amount : 176381.85

Schritte zur Lösung

Translate the problem into an equation:

A = 85000 e^{0.073 \cdot 10}

85000 e^{0.073 \cdot 10} = 176381.85165 \dots

Round to the nearest hundredth:

176381.85

Amount : 176381.85

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