Register

Alice is opening a savings account which earns 2.2% interest, compounded continuously. How much will she need to deposit in the account so that she has $6200 after 3 years?Round…

Alice is opening a savings account which earns 2.2% interest, compounded continuously. How much will she need to deposit in the account so that she has $6200 after 3 years?Round…
asked 225k views
3 votes
Alice is opening a savings account which earns 2.2% interest, compounded continuously.

How much will she need to deposit in the account so that she has $6200 after 3 years?Round your answer to the nearest dollar.

asked
User John Lim
by
8.6k points

2 Answers

5 votes

Answer:

5804 just trust me i got it right

answered
User Nopileos
by
8.4k points
1 vote

Answer:$5804

Explanation:

P=6200/e^(0.022)(3)

answered
User Topsy
by
8.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!