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Algebra Word Problem Solver solves many types of Compound Interest word problems.
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Compound Interest Word Problem Solver Example: Continuously Compounded Interest. See Other Compound Interest Word Problem Examples solved by the Algebra Word Problem Solver.
- Find Compound Interest
- Find Compound Interest Time to Double
- Find Compound Interest Amount
- Find Compound Interest Rate
- Find Compound Interest Present Value
- Find Compound Interest Future Value
What You Enter
A total of $15000 is invested at an annual percentage rate of 8%. Find the balance after 6 years if the interested is compounded continuously.
What You Get
Let A = Final Amount
Let P = Principle
Let R = Rate
Let t = Time
Given: P = $15000
Given: r = 8%
Given: t = 6 YEARS
Find: A
rt A=Pe 0.08*6 A=15000e 0.48 A=15000e A = $ 24,241.12Solution: A = $ 24,241.12
