ru

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Популярное Word Problems >

Reggie opened a savings account and deposited 300.00 as principal. The account earns 4% interest, compounded annually. What is the balance after 5 years?

Решение

R e gg i e 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 300.00 a s p r in c i p a l . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d ann u a ll y . Wha t i s t h e ba l an ce a f t er 5 ye a rs ?

Решение

Amount : 365

Шаги решения

Translate the problem into an equation:

A = 300 (1 + \frac{0.04}{1})^{1 \cdot 5}

300 (1 + \frac{0.04}{1})^{1 \cdot 5} = 364.99587 \dots

Округлите до ближайшего hundredth:

365

Amount : 365

Популярные примеры

Ivan earned some money doing odd jobs last summer and put it in a savings account that earns 7% interest compounded continuously. After 1 year, there is 600.00 in the account. How much did Ivan earn doing odd jobs?Nine less than the product of 2 and a number equals 5.The product of two consecutive room numbers is 156. Find the room numbers./ Graph 56 and 16 on the числовая прямая. Which number is closer to 0?Find three consecutive even integers whose sum is 5 more than four times the second integer