it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Angela deposits 4000 into an account with an APR of 3.5% for 8 years. Find the future value of the account if interest is compounded monthly. Round your answer to the nearest hundredth, if necessary.

Soluzione

A n g e l a d e p os i t s 4000 in t o an a cco u n t w i t h an A PR o f 3.5% f or 8 ye a rs . F in d t h e f u t u re v a l u e o f t h e a cco u n t i f in t eres t i s co m p o u n d e d m o n t h l y . R o u n d yo u r an s w er t o t h e n e a res t h u n d re d t h, i f n ecess a ry .

Soluzione

Amount : 5290.36

Fasi della soluzione

Translate the problem into an equation:

A = 4000 (1 + \frac{0.035}{12})^{12 \cdot 8}

4000 (1 + \frac{0.035}{12})^{12 \cdot 8} = 5290.36276 \dots

Arrotondare all' hundredth più vicino:

5290.36

Amount : 5290.36

Esempi popolari

Lena is going to invest to help with a down payment on a home. How much would she have to invest to have 54,300 after 6 years, assuming an interest rate of 1.63% compounded quarterly?Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.The circonferenza of a circle is 17pi cm. What is the area, in square centimeters? Express your answer in terms of pipi.The radius of a circle is 5in Find its circonferenza in terms of pi Four consecutive even integers add up to 60. What is the greatest of these integers?The product of six and a number is eleven