Vicky opened a savings account and deposited 300.00 as principal. The account earns 5% interest, compounded continuously. What is the balance after 6 years?

Soluzione

Soluzione

Amount : 404.96

Fasi della soluzione

Translate the problem into an equation:

A = 300 e^{0.05 \cdot 6}

300 e^{0.05 \cdot 6} = 404.95764 \dots

Arrotondare all' hundredth più vicino:

404.96

Amount : 404.96

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