it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Raina deposited 3000 into an account with a 10.2% annual interest rate, compounded monthly. Assuming that no withdrawals are made, how long will it take for the investment to grow to 4698 ?

Soluzione

R aina d e p os i t e d 3000 in t o an a cco u n t w i t h a 10.2% ann u a l in t eres t r a t e, co m p o u n d e d m o n t h l y . A ss u min g t ha t n o w i t h d r a w a l s a re ma d e, h o w l o n g w i ll i t t ak e f or t h e in v es t m e n t t o g ro w t o 4698 ?

Soluzione

Time : 4.42

Fasi della soluzione

Translate the problem into an equation:

4698 = 3000 (1 + \frac{0.102}{12})^{12 t}

Risolvi per

t, 4698 = 3000 (1 + \frac{0.102}{12})^{12 t} : t = 4.42

Time : 4.42

Esempi popolari

Bernie has 90 in a savings account.The interest rate is 10% per year and is not compounded.How much interest will he earn in 2 years?Marshall opened a savings account 3 years ago. The account earns 2% interest, compounded quarterly. If the current balance is 300.00, how much did he deposit initially?John has 2 apples. both apples were for 10 dollars. how much price is an apple The sum of 17 and two more than twice a number is 41. Find the number.The radius of a circle is 3.8 cm. Find the circonferenza to the nearest tenth.