Abdul opened a savings account and deposited 400.00 as principal. The account earns 2% interest, compounded monthly. What is the balance after 5 years?

解

解

Amount : 442.03

解答ステップ

Translate the problem into an equation:

A = 400 (1 + \frac{0.02}{12})^{12 \cdot 5}

400 (1 + \frac{0.02}{12})^{12 \cdot 5} = 442.03157 \dots

最も近い

h u n d re d t h

に四捨五入:

442.03

Amount : 442.03

Abdul opened a savings account and deposited 400.00 as principal. The account earns 2% interest, compounded monthly. What is the balance after 5 years?

解

解

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