pt

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Suppose that 5000 is placed in a savings account at an annual rate of 4.2%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to 5650?

Solução

S u pp ose t ha t 5000 i s pl a ce d in a s a v in g s a cco u n t a t an ann u a l r a t e o f 4.2%, 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 a cco u n t t o g ro w t o 5650 ?

Solução

Time : 2.92

Passos da solução

Translate the problem into an equation:

5650 = 5000 (1 + \frac{0.042}{12})^{12 t}

Resolver para

t, 5650 = 5000 (1 + \frac{0.042}{12})^{12 t} : t = 2.92

Time : 2.92

Exemplos populares

card is drawn from a deck of 52 cards. What is the probability of selecting a red card?Javier deposited 321 in an account earning 5% interest compounded annually.To the nearest cent, how much interest will he earn in 4 years?In 2 years, David wants to buy a bicycle that costs 600.00. If he opens a savings account that earns 4% interest compounded quarterly, how much will he have to deposit as principal to have enough money in 2 years to buy the bike?6 more than a number.Harper opened a savings account and deposited 4,000.00 as principal. The account earns 13% interest, compounded quarterly. What is the balance after 10 years?