Tyrone and Reba deposit 6,000.00 into a savings account which earns 1% interest compounded continuously. They want to use the money in the account to go on a trip in 1 year. How much will they be able to spend?

Solución

Tyrone and Reba deposit 6, 000.00 into a savings account which earns 1% interest compounded continuously. They want to use the money in the account to go on a trip in 1 year. How much will they be able to spend?

Solución

Amount : 6060.3

Pasos de solución

Translate the problem into an equation:

A = 6000 e^{0.01 \cdot 1}

6000 e^{0.01 \cdot 1} = 6060.30100 \dots

Round to the nearest hundredth:

6060.3

Amount : 6060.3

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