Imani invests 8,268 in a retirement account with a fixed annual interest rate of 8% compounded 3 times per year. How long will it take for the account balance to reach 40,102.20?

Lời Giải

Imani invests 8, 268 in a retirement account with a fixed annual interest rate of 8% compounded 3 times per year. How long will it take for the account balance to reach 40, 102.20?

Lời Giải

Time : 20.52

Các bước giải pháp

Translate the problem into an equation:

40102.2 = 8268 (1 + \frac{0.08}{1})^{1 \cdot t}

Giải

t, 40102.2 = 8268 (1 + \frac{0.08}{1})^{1 \cdot t} : t = 20.52

Time : 20.52

Ví dụ phổ biến

Carlos invests 4540 at a rate of r% per year compound interest.At the end of 10 years he has earned 1328.54 in interest.Calculate the value of r query=7 decreased by twice a number is 11 The result of doubling a number is at most 30, what is the number?You deposit 3000 in an account that earns 3.8% annual interest compounded continuously. Find the balance of your account after 5 years the hiệu of two numbers is 4. Thrice the first number plus twice the second number is 28.