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Beliebt Word Problems >

Emma invested 750 in an account paying an interest rate of 1.9% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 910?

Lösung

E mma in v es t e d 750 in an a cco u n t p a y in g an in t eres t r a t e o f 1.9% co m p o u n d e d q u a r t er l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w l o n g w o u l d i t t ak e, t o t h e n e a res t t e n t h o f a ye 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 910 ?

Lösung

Time : 10.2

Schritte zur Lösung

Translate the problem into an equation:

910 = 750 (1 + \frac{0.019}{4})^{4 t}

Löse nach

t, 910 = 750 (1 + \frac{0.019}{4})^{4 t} : t = 10.2

Time : 10.2

Beliebte Beispiele

Victor is y years old.:His brother Fred is four years old than Victor.:The product of their ages is 780:Set up an equation to represent this information.Brooklyn is going to invest in an account paying an interest rate of 3.5% compounded continuously. How much would Brooklyn need to invest, to the nearest ten dollars, for the value of the account to reach 640 in 9 years?Hassan is going to invest in an account paying an interest rate of 2.3% compounded continuously. How much would Hassan need to invest, to the nearest ten dollars, for the value of the account to reach 1,130 in 8 years?Alexander invested 240 in an account paying an interest rate of 2.3% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 9 years?three more than the quotient of a number and 6 equals 7