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Populaire Word Problems >

you invest 500 dollars at an 8% annual interest rate, if it is compounded continuously how much is your investment worth after 4 years

Solution

yo u in v es t 500 d o ll a rs a t an 8% ann u a l in t eres t r a t e, i f i t i s co m p o u n d e d co n t in u o u s l y h o w m u c h i s yo u r in v es t m e n t w or t h a f t er 4 ye a rs

Solution

Amount : 688.56

étapes des solutions

Translate the problem into an equation:

A = 500 e^{0.08 \cdot 4}

500 e^{0.08 \cdot 4} = 688.56388 \dots

Arrondir à hundredth la plus proche:

688.56

Amount : 688.56

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