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Phổ biến Word Problems >

Feng is going to invest in an account paying an interest rate of 6.5% compounded quarterly. How much would Feng need to invest, to the nearest dollar, for the value of the account to reach 2,550 in 18 years?

Lời Giải

F e n g i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 6.5% co m p o u n d e d q u a r t er l y . Ho w m u c h w o u l d F e n g n ee d t o in v es t, t o t h e n e a res t d o ll a r, f or t h e v a l u e o f t h e a cco u n t t o re a c h 2, 550 in 18 ye a rs ?

Lời Giải

Principal : 798.91

Các bước giải pháp

Translate the problem into an equation:

2550 = P (1 + \frac{0.065}{4})^{4 \cdot 18}

Giải

P, 2550 = P (1 + \frac{0.065}{4})^{4 \cdot 18} : P = 798.91

Principal : 798.91

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