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Popolare Word Problems >

Fatoumata is going to invest in an account paying an interest rate of 1.7% compounded continuously. How much would Fatoumata need to invest, to the nearest hundred dollars, for the value of the account to reach 6,300 in 5 years?

Soluzione

F a t o u ma t a i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 1.7% 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 o u l d F a t o u ma t a n ee d t o in v es t, t o t h e n e a res t h u n d re d d o ll a rs, f or t h e v a l u e o f t h e a cco u n t t o re a c h 6, 300 in 5 ye a rs ?

Soluzione

Principal : 5786.63

Fasi della soluzione

Translate the problem into an equation:

6300 = P e^{0.017 \cdot 5}

Risolvi per

P, 6300 = P e^{0.017 \cdot 5} : P = 5786.63

Principal : 5786.63

Esempi popolari

2 more than 3 times the number is equivalent to 1 less than 5 times the number Monica opened a savings account and deposited 400.00 as principal. The account earns 15% interest, compounded annually. What is the balance after 7 years?7100 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 30 years, to the nearest cent?Jeremiah invested 70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 99,000?Amal wants to place all the numbers 1 to 10 in the circles in the diagram with one number in each circle. She wants the sum of the numbers in any four circles that are in a straight retta to be 23 , for example the sum of numbers in four grey circles is 23 . What number must she place in the circle containing the question mark?