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Populaire Word Problems >

Find the future value.5789 invested for 9 years at 5% compounded quarterly

Solution

F in d t h e f u t u re v a l u e .5789 in v es t e d f or 9 ye a rs a t 5% co m p o u n d e d q u a r t er l y

Solution

Amount : 9053.67

étapes des solutions

Translate the problem into an equation:

A = 5789 (1 + \frac{0.05}{4})^{4 \cdot 9}

5789 (1 + \frac{0.05}{4})^{4 \cdot 9} = 9053.67076 \dots

Arrondir à hundredth la plus proche:

9053.67

Amount : 9053.67

Exemples populaires

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