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Popolare Word Problems >

14.Find the values for the following: An initial 500 compounded for 2 years at 6% percent

Soluzione

14. F in d t h e v a l u es f or t h e f o ll o w in g : A n ini t ia l 500 co m p o u n d e d f or 2 ye a rs a t 6% p erce n t

Soluzione

Amount : 561.8

Fasi della soluzione

Translate the problem into an equation:

A = 500 (1 + \frac{0.06}{1})^{1 \cdot 2}

500 (1 + \frac{0.06}{1})^{1 \cdot 2} = 561.8

Amount : 561.8

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