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شائع Word Problems >

You deposit 14000 in an account earning .5% interest compounded monthly. How much will you have in the account in 1/4 years?

الحلّ

Y o u d e p os i t 14000 in an a cco u n t e a r nin g .5% in t eres t co m p o u n d e d m o n t h l y . Ho w m u c h w i ll yo u ha v e in t h e a cco u n t in \frac{1}{4} ye a rs ?

الحلّ

Amount : 14175.73

خطوات الحلّ

Translate the problem into an equation:

A = 14000 (1 + \frac{0.05}{12})^{12 \cdot \frac{1}{4}}

14000 (1 + \frac{0.05}{12})^{12 \cdot \frac{1}{4}} = 14175.73017 \dots

Round to the nearest hundredth:

14175.73

Amount : 14175.73

أمثلة شائعة

the sum of two consecutive even integers is 238 When 2 dice are rolled, find the probability of getting a 5 or a heart.Find the surface area in square meters of a sphere with diameter 3 m. Round your answer to the nearest tenth of a meter.The sum of seven and a number, x, is six.Suppose Leila places 7500 in an account that pays 11 interest compounded each year. Assume that no withdrawals are made from the account. Follow the instructions below. Do not do any rounding. Find the amount in the account at the end of 1 year.