Suppose an investment earns 2.9% interest compounded continuously. Find the future value of a 5900 investment after 12 years. Round your answer to the nearest cent, if necessary.

Soluzione

Soluzione

Amount : 8355.77

Fasi della soluzione

Translate the problem into an equation:

A = 5900 e^{0.029 \cdot 12}

5900 e^{0.029 \cdot 12} = 8355.77027 \dots

Arrotondare all' hundredth più vicino:

8355.77

Amount : 8355.77

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