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Josslyn placed $4400 in a savings account which earns 3.2% interest, compounded continuously. How much will she have in the account after 8 years? Round your answer to the nearest dollar. Do NOT round until you have calculated the final answer.

Respuesta :

The initial amoud on her savings is $4400, so now we can calculate the interest that she generate in one year:

[tex]4400\cdot\frac{3.2}{100}=140.8[/tex]

so in 8 year is going to be:

[tex]140.8\cdot8=1126.4[/tex]

So the total amoud will be the initial amound plus the interest she earn so:

[tex]4400+1126.4=5526.4[/tex]

and rounded would be like:

[tex]5526\text{ dollars}[/tex]

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