In 3 years, Caden wants to buy a bicycle that costs 500.00. If he opens a savings account that earns 15% interest compounded continuously, how much will he have to deposit as principal to have enough money in 3 years to buy the bike?

Soluzione

Soluzione

Principal : 318.81

Fasi della soluzione

Translate the problem into an equation:

500 = P e^{0.15 \cdot 3}

Risolvi per

P, 500 = P e^{0.15 \cdot 3} : P = 318.81

Principal : 318.81

Esempi popolari

The area of a circle is 64𝜋 square feet. What is the circonferenza?A cube has a volume of 0.027 cubic meter. What is the side length in meters of the cube?Find the diametro of a circle with an area of 1296pi square feet.a pair of dice is rolled. What is the probability of rolling the sum of 10 or 11?The sum of two consecutive even integers is −146. Find the two integers.