en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Gavin is saving up money to buy a car. Gavin puts 5,000.00 into an account which earns 10% interest, compounded continuously. How much will he have in the account after 1 year?

Solution

G a v in i s s a v in g u p m o n ey t o b u y a c a r . G a v in p u t s 5, 000.00 in t o an a cco u n t w hi c h e a r n s 10% 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 h e ha v e in t h e a cco u n t a f t er 1 ye a r ?

Solution

Amount : 5525.85

Solution steps

Translate the problem into an equation:

A = 5000 e^{0.1 \cdot 1}

5000 e^{0.1 \cdot 1} = 5525.85459 \dots

Round to the nearest hundredth:

5525.85

Amount : 5525.85

Popular Examples

The circumference of a circle is 6pi m. What is the area, in square meters? Express your answer in terms of pi.factor first 30 prim number 85% of what number is 34?The research department of a board game company surveyed some shoppers at a local mall. The team asked shoppers how often they read the news, among other questions. Then the team played a memory card game with the shoppers. They recorded how many cards each shopper remembered.What is the probability that a randomly selected shopper reads the news 1-2 times a week given that the shopper remembered 1-3 cards?She drove for 142.5 miles at a speed of 57 mph. For how many hours did she drive?