Rose opened a savings account and deposited 800.00 as principal. The account earns 2% interest, compounded quarterly. What is the balance after 6 years?

الحلّ

الحلّ

Amount : 901.73

خطوات الحلّ

Translate the problem into an equation:

A = 800 (1 + \frac{0.02}{4})^{4 \cdot 6}

800 (1 + \frac{0.02}{4})^{4 \cdot 6} = 901.72782 \dots

Round to the nearest hundredth:

901.73

Amount : 901.73

أمثلة شائعة

three and one half of what number is 4200 An integer is two more than another integer. Twice the larger integer is one more than the square of the smaller integer. Find the two integers.Five increased by the product of a number and 2 is at least-25 Find the simple interest earned on 2500 at 12% p.a. for 1 year Nathan and Audrey deposit 1,772.00 into a savings account which earns 3% interest compounded monthly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?