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Beliebt Word Problems >

Suppose that when your friend was born, your friend's parents deposited 4000 in an account paying 4.5% interest compounded quarterly. What will the account balance be after 19 years?

Lösung

S u pp ose t ha t w h e n yo u r f r i e n d w a s ​ b or n, yo u r ​ f r i e n d^{'} s p a re n t s d e p os i t e d ​4000 in an a cco u n t p a y in g 4.5​% in t eres t co m p o u n d e d q u a r t er l y . Wha t w i ll t h e a cco u n t ba l an ce b e a f t er 19 ​ ye a rs ?

Lösung

Amount : 9360.71

Schritte zur Lösung

Translate the problem into an equation:

A = 4000 (1 + \frac{0.045}{4})^{4 \cdot 19}

4000 (1 + \frac{0.045}{4})^{4 \cdot 19} = 9360.70637 \dots

Round to the nearest hundredth:

9360.71

Amount : 9360.71

Beliebte Beispiele

The diameter of a circle is 7 ft. Find its kreisumfang in terms of pi pi thrice the number decreased by four the sum of two numbers is 24 and their differenz is 2. what are the numbers?A number divided by 2, plus 5, is 8 2 less than the quotient of a number and 9 is 5.