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Popular Word Problems >

Krysta is saving up money to buy a car. Krysta puts 10,000.00 into an account which earns 6% interest, compounded quarterly. How much will she have in the account after 10 years?

Solução

Krys t a i s s a v in g u p m o n ey t o b u y a c a r . Krys t a p u t s 10, 000.00 in t o an a cco u n t w hi c h e a r n s 6% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h w i ll s h e ha v e in t h e a cco u n t a f t er 10 ye a rs ?

Solução

Amount : 18140.18

Passos da solução

Translate the problem into an equation:

A = 10000 (1 + \frac{0.06}{4})^{4 \cdot 10}

10000 (1 + \frac{0.06}{4})^{4 \cdot 10} = 18140.18408 \dots

Round to the nearest hundredth:

18140.18

Amount : 18140.18

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