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Suppose that \$2200 is borrowed for five years at an interest rate of 4.5% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end.Do not round any intermediate computations, and round your answer to the nearest cent.

解答

Suppose that $2200 is borrowed for five years at an interest rate of 4.5% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end.Do not round any intermediate computations, and round your answer to the nearest cent.

解答

Amount : 2755.11

求解步骤

Translate the problem into an equation:

A = 2200 e^{0.045 \cdot 5}

2200 e^{0.045 \cdot 5} = 2755.10997 \dots

Round to the nearest hundredth:

2755.11

Amount : 2755.11

流行的例子

Translate Five more than a number times eight.7800 dollars is placed in an account with an annual interest rate of 5%. To the nearest tenth of a year, how long will it take for the account value to reach 13200 dollars?Q1. Use the classical definition to find the probability of the following event: Rolling a fair die once and getting a number less than 2. Express your answer as a decimal rounded to one decimal place.the sum od two consecutive numbers is 29. find the number some number plus two is equal to the number divided by twelve