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Popular 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?

Solução

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 ?

Solução

Principal : 5786.63

Passos da solução

Translate the problem into an equation:

6300 = P e^{0.017 \cdot 5}

Resolver para

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

Principal : 5786.63

Exemplos populares

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