fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

Samantha invested 50,000 in an account paying an interest rate of 4.1% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 8 years?

Solution

S aman t ha in v es t e d 50, 000 in an a cco u n t p a y in g an in t eres t r a t e o f 4.1% co m p o u n d e d d ai 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 m u c h m o n ey, t o t h e n e a res t t e n d o ll a rs, w o u l d b e in t h e a cco u n t a f t er 8 ye a rs ?

Solution

Amount : 69408.17

étapes des solutions

Translate the problem into an equation:

A = 50000 (1 + \frac{0.041}{365})^{365 \cdot 8}

50000 (1 + \frac{0.041}{365})^{365 \cdot 8} = 69408.17006 \dots

Arrondir à hundredth la plus proche:

69408.17

Amount : 69408.17

Exemples populaires

Jonathan invested 930 in an account paying an interest rate of 3.1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 11 years?Denver is 13 years younger than 5 times of Camille's age. Two years from now, Denver's age is 4 times Camille's present age. How old are they now?3400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 25 years, to the nearest cent?The sum of two numbers is 11. Thrice the smaller number is five greater than the larger number. What are the numbers?Fabian is going to invest in an account paying an interest rate of 5.5% compounded annually. How much would Fabian need to invest, to the nearest ten dollars, for the value of the account to reach 1,240 in 13 years?