it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Avery puts 2,000.00 into an account to use for school expenses. The account earns 15% interest, compounded annually. How much will be in the account after 7 years?

Soluzione

A v ery p u t s 2, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 15% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 7 ye a rs ?

Soluzione

Amount : 5320.04

Fasi della soluzione

Translate the problem into an equation:

A = 2000 (1 + \frac{0.15}{1})^{1 \cdot 7}

2000 (1 + \frac{0.15}{1})^{1 \cdot 7} = 5320.03976 \dots

Arrotondare all' hundredth più vicino:

5320.04

Amount : 5320.04

Esempi popolari

Carolyn invested 500, compounded quarterly, for 2 years. At what interest rate will she need to invest if she wants 552.25 at the end of the term?If a company matches an employee 5% of their salary into a retirement account and the employees salary is 57,817.00, how much it is at the end of the year?How much would you need to deposit in an account now in ordine to have 3000 in the account in 5 years? Assume the account earns 8% interest compounded monthly.10911aIf the mean is 11, which number could a be?A die is rolled twice. Find the probability of getting both odd numbers and the same number on both rolls