en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Cassie puts 600.00 into an account to use for school expenses. The account earns 9% interest, compounded annually. How much will be in the account after 10 years?

Solution

C a ss i e p u t s 600.00 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 9% 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 10 ye a rs ?

Solution

Amount : 1420.42

Solution steps

Translate the problem into an equation:

A = 600 (1 + \frac{0.09}{1})^{1 \cdot 10}

600 (1 + \frac{0.09}{1})^{1 \cdot 10} = 1420.41820 \dots

Round to the nearest hundredth:

1420.42

Amount : 1420.42

Popular Examples

Scarlett opened a savings account and deposited 7,058.00 as principal. The account earns 8.54% interest, compounded annually. What is the balance after 6 years?A square painting has a perimeter of 28 feet. How long is each side?The sum of two consecutive integers is 91. Find the two integers.twice more than th sum of 6 and twice a number A pair of sneakers are 164.99 Today, they are being sold at 25% off. what is the sale price?