Candice is saving up money to buy a car. Candice puts 7,000.00 into an account which earns 1% interest, compounded quarterly. How much will she have in the account after 5 years?Round your answer to the nearest cent.

Lời Giải

Candice is saving up money to buy a car. Candice puts 7, 000.00 into an account which earns 1% interest, compounded quarterly. How much will she have in the account after 5 years?Round your answer to the nearest cent.

Lời Giải

Amount : 7358.44

Các bước giải pháp

Translate the problem into an equation:

A = 7000 (1 + \frac{0.01}{4})^{4 \cdot 5}

7000 (1 + \frac{0.01}{4})^{4 \cdot 5} = 7358.43852 \dots

Làm tròn đến hundredth gần nhất:

7358.44

Amount : 7358.44

Ví dụ phổ biến

two diminished by seven times a number rút gọn to lowest number-2\div6 Maggie deposited 100.00 into a new savings account that earns 10% interest compounded monthly. How long will it take for the balance to grow to 212.00?If the sum of three consecutive odd numbers is 177. What is the smallest of the three numbers?A sphere has a volume of 500m^3 calculate the bán kính of the sphere