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Callie invests 4,000 into an account at a 3% interest rate. The account compounds interest continuously.How much will Callie have in the account after 10 years if she leaves the account untouched?

Soluzione

Callie invests 4, 000 into an account at a 3% interest rate. The account compounds interest continuously.How much will Callie have in the account after 10 years if she leaves the account untouched?

Soluzione

Amount : 5375.67

Fasi della soluzione

Translate the problem into an equation:

A = 4000 (1 + \frac{0.03}{1})^{1 \cdot 10}

4000 (1 + \frac{0.03}{1})^{1 \cdot 10} = 5375.66551 \dots

Arrotondare all' hundredth più vicino:

5375.67

Amount : 5375.67

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