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شائع Word Problems >

Find the accumulated value of an investment of 1400 at 8% compounded quarterly for 4 years.

الحلّ

F in d t h e a cc u m u l a t e d v a l u e o f an in v es t m e n t o f 1400 a t 8% co m p o u n d e d q u a r t er l y f or 4 ye a rs .

الحلّ

Amount : 1921.9

خطوات الحلّ

Translate the problem into an equation:

A = 1400 (1 + \frac{0.08}{4})^{4 \cdot 4}

1400 (1 + \frac{0.08}{4})^{4 \cdot 4} = 1921.89998 \dots

Round to the nearest hundredth:

1921.9

Amount : 1921.9

أمثلة شائعة

15 years from now John will be twice as old as Peter.The current sum of the ages of John and Peter is 21.How old is Peter right now?The difference between the square of a number and twice the number is equal to 8.Find both numbers that satisfy the condition above.a pair of standard dice are rolled. find the probability of rolling sum of 4 with these dice.Emmett opened a savings account and deposited 400.00. The account earns 13% interest, compounded continuously. If he wants to use the money to buy a new bicycle in 1 year, how much will he be able to spend on the bike?Steve invests 1,800 in an account that earns 3.7% annual interest, compounded continuously.What is the value of the account after 10 years? Round your answer to the nearest dollar.