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Popolare Word Problems >

Maureen opened a savings account and deposited 600.00 as principal. The account earns 9% interest, compounded monthly. What is the balance after 5 years?

Soluzione

M a u ree n o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 600.00 a s p r in c i p a l . 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 m o n t h l y . Wha t i s t h e ba l an ce a f t er 5 ye a rs ?

Soluzione

Amount : 939.41

Fasi della soluzione

Translate the problem into an equation:

A = 600 (1 + \frac{0.09}{12})^{12 \cdot 5}

600 (1 + \frac{0.09}{12})^{12 \cdot 5} = 939.40861 \dots

Arrotondare all' hundredth più vicino:

939.41

Amount : 939.41

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twice a number is eleven Lauren's age is a quarter of Joe's age. Emma is four years older than Joe. The sum of Lauren, Emma, and Joe's age is 54. How old is Joe?number a is more than 6 One number is three less than another. Their sum is 15.Brandon deposited 3600 into a savings account that has an annual simple interest rate of 0.5%. How much is in the account after 5 years?