# calc2

posted by .

At what constant, continuous annual rate should you deposit money into an account if you want to have \$1,000,000 in 25 years? The account earns 5% interest, compounded continuously. Round to the nearest dollar.

## Similar Questions

1. ### Math

Please check my work, thank you If \$7,800 is deposited into an account paying 6% interest compounded annually (at the end of each year), how much money is in the account after 2 years?
2. ### Calculus

Redo problem 8 in section 6.3 of your textbook (page 288) assuming that the parents need \$105000 in 9 years for college expenses, and that the bank account earns 9.25% compounded continuously. Round your answers to the nearest cent. …
3. ### math

a bank account earns 7% annual interest compounded continuously. you deposit \$10,000 in the account, and withdraw money continuously from the account at a rate of \$1000 per year. a. write the differential equation for the balance, …
4. ### algebra

The amount of money in an account with continuously compounded interest is given by the formula A=Pe^rt , where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a …
5. ### calculus

3. A deposit of ___(i)___is made into an account paying an interest rate of 5% compounded annually. How many annual payments of ___(iii)___can be made from this account?
6. ### Math

(a) Themba wants to deposit a sum of money into a savings account so that he will have R30 000 in 3 years time for an overseas holiday how much money must he deposit into the account if the interest paid on the savings is 8,5% p.a …
7. ### Math

A savings account with a current balance of \$5,000 earns 2.75% annual interest, compounded continuously. To the nearest dollar, what will be the account balance in 10 years?
8. ### Math

A savings account with a current balance of \$5,000 earns 2.75% annual interest, compounded continuously. To the nearest dollar, what will be the account balance in 10 years?
9. ### Interest

Jim opens a savings account with a deposit of \$10,000. If the account has an annual interest rate of 6%, compounded quarterly, how much is in the account after one year?
10. ### pre-calc

You leave \$5,000 in an account for 20 years. The account compounds interest yearly at a rate of 10%. To the nearest dollar, how much money do you have at the end of the 20 years?

More Similar Questions