Finn and Ellie deposit 600.00 into a savings account which earns 5% 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

Solución

Amount : 630.76

Pasos de solución

Translate the problem into an equation:

A = 600 e^{0.05 \cdot 1}

600 e^{0.05 \cdot 1} = 630.76265 \dots

Round to the nearest hundredth:

630.76

Amount : 630.76

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