en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

You deposit 4000 in an account earning 8% interest compounded continuously. How much will you have in the account in 10 years?

Solution

Y o u d e p os i t 4000 in an a cco u n t e a r nin g 8% 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 yo u ha v e in t h e a cco u n t in 10 ye a rs ?

Solution

Amount : 8902.16

Solution steps

Translate the problem into an equation:

A = 4000 e^{0.08 \cdot 10}

4000 e^{0.08 \cdot 10} = 8902.16371 \dots

Round to the nearest hundredth:

8902.16

Amount : 8902.16

Popular Examples

Seven more than twice the number is 23. What is the number?The product of two consecutive odd integers is 15 The product of six and seven more than a number is 50.You invest 5000 at 8% interest compounded monthly. How much money will you have after 8 years?2 less than a number is 8