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Popular Word Problems >

Find the amount in a continuously compounded account for the following condition. Principal, 4000; Annual interest rate, 5.6%; time, 2 years

Solución

F in d t h e am o u n t in a co n t in u o u s l y co m p o u n d e d a cco u n t f or t h e f o ll o w in g co n d i t i o n . ​ P r in c i p a l, ​4000​; A nn u a l in t eres t ​ r a t e, 5.6​%; ​ t im e, 2 ye a rs

Solución

Amount : 4460.544

Pasos de solución

Translate the problem into an equation:

A = 4000 (1 + \frac{0.056}{1})^{1 \cdot 2}

4000 (1 + \frac{0.056}{1})^{1 \cdot 2} = 4460.544

Amount : 4460.544

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