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Beliebt Word Problems >

Austen puts 4,347.00 into an account to use for school expenses. The account earns 8.88% interest, compounded annually. How much will be in the account after 10 years?

Lösung

A u s t e n p u t s 4, 347.00 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 8.88% 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 10 ye a rs ?

Lösung

Amount : 10178.19

Schritte zur Lösung

Translate the problem into an equation:

A = 4347 (1 + \frac{0.0888}{1})^{1 \cdot 10}

4347 (1 + \frac{0.0888}{1})^{1 \cdot 10} = 10178.19488 \dots

Round to the nearest hundredth:

10178.19

Amount : 10178.19

Beliebte Beispiele

8 times a number plus 15 to equal to 6 times the number minus 41. find number Madeline invested 2, 800 in an account paying an interest rate of 4.4% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 6100 one third of a number is no more than nine a pair of standard dice are rolled. find the probability of rolling sum of 11 with these dice.translate the equation: four more than the product of a number and 5 is 3