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شائع Word Problems >

Dana puts 864.00 into an account to use for school expenses. The account earns 6% interest, compounded annually. How much will be in the account after 6 years?

الحلّ

D ana p u t s 864.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 6% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 6 ye a rs ?

الحلّ

Amount : 1225.6

خطوات الحلّ

Translate the problem into an equation:

A = 864 (1 + \frac{0.06}{1})^{1 \cdot 6}

864 (1 + \frac{0.06}{1})^{1 \cdot 6} = 1225.60051 \dots

Round to the nearest hundredth:

1225.6

Amount : 1225.6

أمثلة شائعة

square has a perimeter of 65 inches. What is the area of the square?the sum of two numbers is 14. one third of the smaller number added to one fourth of the larger number is 4.what are the numbers 400.00 into an account to use for school expenses. The account earns 15% interest, compounded annually. How much will be in the account after 8 years?find three consecutive whole numbers with a sum of 150 Mackenzie opened a savings account and deposited 1,074.00 as principal. The account earns 11% interest, compounded quarterly. What is the balance after 7 years?