ru

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Популярное Word Problems >

Harold puts 700.00 into an account to use for school expenses. The account earns 9% interest, compounded quarterly. How much will be in the account after 7 years?Round your answer to the nearest cent.

Решение

H a ro l d p u t s 700.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 9% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 7 ye a rs ? R o u n d yo u r an s w er t o t h e n e a res t ce n t .

Решение

Amount : 1305.18

Шаги решения

Translate the problem into an equation:

A = 700 (1 + \frac{0.09}{4})^{4 \cdot 7}

700 (1 + \frac{0.09}{4})^{4 \cdot 7} = 1305.18149 \dots

Округлите до ближайшего hundredth:

1305.18

Amount : 1305.18

Популярные примеры

Sarah is 5 times as old as Sam. If Sarah is 60 years older than sam what are their ages?A number is five times another number. Their sum is 2424. What are the numbers?Omar is going to invest in an account paying an interest rate of 6% compounded monthly. How much would Omar need to invest to the nearest dollar for the value of the account to reach 32400 in 20 years?use the appropriate compound interest formula to compute the balance in the account after the stated period of time. 17000 dollars is invested for 2 years with an APR of 4.2% and daily compounding. what is the balance in the account after 2 years The radius of a окружность is 16 m. Find its area in terms of pi.