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Popular Word Problems >

Grace is saving up money to buy a car. Grace puts 7,000.00 into an account which earns 12% interest, compounded continuously. How much will she have in the account after 6 years?

Solución

G r a ce i s s a v in g u p m o n ey t o b u y a c a r . G r a ce p u t s 7, 000.00 in t o an a cco u n t w hi c h e a r n s 12% 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 s h e ha v e in t h e a cco u n t a f t er 6 ye a rs ?

Solución

Amount : 14381.03

Pasos de solución

Translate the problem into an equation:

A = 7000 e^{0.12 \cdot 6}

7000 e^{0.12 \cdot 6} = 14381.03247 \dots

Redondear al más cercano hundredth:

14381.03

Amount : 14381.03

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