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Popolare Word Problems >

what amount must be deposited by a student that pays 2% compounded annually so that after 12 years he will have 100,000

Soluzione

w ha t am o u n t m u s t b e d e p os i t e d b y a s t u d e n t t ha t p a ys 2% co m p o u n d e d ann u a ll y so t ha t a f t er 12 ye a rs h e w i ll ha v e 100, 000

Soluzione

Principal : 78849.32

Fasi della soluzione

Translate the problem into an equation:

100000 = P (1 + \frac{0.02}{1})^{1 \cdot 12}

Risolvi per

P, 100000 = P (1 + \frac{0.02}{1})^{1 \cdot 12} : P = 78849.32

Principal : 78849.32

Esempi popolari

What is the compound amount on a loan of ₱50,000 at 6% for 6 years compounded semi-annually?ASUM OF RS 12000 amounts to rupees 17500 in 6 years at the a compound interest compounded half yearly.what is the rate of interest what is the compound of 15900 at 5.5 percent interest compound annually for 2 years how long will it take 2000 to earn php 400 if the interest is 12 prcent compounded semi annually Calculate how much would have had to be invested to have 8190.93 after three years if the investment paid a rate of 3.15% compounded weekly.