it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Kimi opened a savings account and deposited 1,000.00 as principal. The account earns 14% interest, compounded monthly. What is the balance after 9 years?

Soluzione

K imi 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 1, 000.00 a s p r in c i p a l . T h e a cco u n t e a r n s 14% 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 9 ye a rs ?

Soluzione

Amount : 3499.8

Fasi della soluzione

Translate the problem into an equation:

A = 1000 (1 + \frac{0.14}{12})^{12 \cdot 9}

1000 (1 + \frac{0.14}{12})^{12 \cdot 9} = 3499.80296 \dots

Arrotondare all' hundredth più vicino:

3499.8

Amount : 3499.8

Esempi popolari

Four times a number and five is the same as 3 times the number less nine.Tyler opened a savings account 8 years ago. The account earns 11% interest, compounded monthly. If the current balance is 100.00, how much did he deposit initially?Darren invests 4, 500 into an account that earns 5% annual interest. How much will be in the account after 10 years if the interest rate is compounded daily?The sum of twice a number and 14 less than the number is the same as the differenza between-30and the number. What is the number?Jim is 4 years older than Kat. Five years ago, the sum of their ages was 48. How old is Jim?