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Beliebt Word Problems >

What are the future value and the interest earned if 3000 IS INVESTED FOR 5 YEARS AT 8% compound quarterly ? Round to the nearest cent

Lösung

Wha t a re t h e f u t u re v a l u e an d t h e in t eres t e a r n e d i f 3000 I S I N V ESTE D FOR 5 Y E A RS A T 8% co m p o u n d q u a r t er l y ? R o u n d t o t h e n e a res t ce n t

Lösung

Interest : 1457.84

Schritte zur Lösung

Translate the problem into an equation:

4457.84 = 3000 + I

Löse nach

I, 4457.84 = 3000 + I : I = 1457.84

Interest : 1457.84

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