es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Luther opened a savings account and deposited 200.00. The account earns 13% interest, compounded continuously. If he wants to use the money to buy a new bicycle in 1 year, how much will he be able to spend on the bike?

Solución

Lu t h er o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 200.00. T h e a cco u n t e a r n s 13% in t eres t, co m p o u n d e d co n t in u o u s l y . I f h e w an t s t o u se t h e m o n ey t o b u y a n e w bi cyc l e in 1 ye a r, h o w m u c h w i ll h e b e ab l e t o s p e n d o n t h e bik e ?

Solución

Amount : 227.77

Pasos de solución

Translate the problem into an equation:

A = 200 e^{0.13 \cdot 1}

200 e^{0.13 \cdot 1} = 227.76567 \dots

Redondear al más cercano hundredth:

227.77

Amount : 227.77

Ejemplos populares

If a hat costs 4.20 after a 40% discount, what was its original price?One number is 3 more than twice the other number. If the sum of the two numbers is 18, find the two numbers.Joshua invested 97,000 in an account paying an interest rate of 6% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 8 years?Santiago is going to invest in an account paying an interest rate of 1.5% compounded quarterly. How much would Santiago need to invest, to the nearest dollar, for the value of the account to reach 320 in 14 years?Mia is going to invest in an account paying an interest rate of 4.3% compounded continuously. How much would Mia need to invest, to the nearest cent, for the value of the account to reach 13,700 in 18 years?