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Beliebt Word Problems >

Determine the value of an investment of 100,000 if it is invested at an interest rate of 5.2% compounded quarterly for 12 years.

Lösung

De t er min e t h e v a l u e o f an in v es t m e n t o f 100, 000 i f i t i s in v es t e d a t an in t eres t r a t e o f 5.2% co m p o u n d e d q u a r t er l y f or 12 ye a rs .

Lösung

Amount : 185888.87

Schritte zur Lösung

Translate the problem into an equation:

A = 100000 (1 + \frac{0.052}{4})^{4 \cdot 12}

100000 (1 + \frac{0.052}{4})^{4 \cdot 12} = 185888.86567 \dots

Round to the nearest hundredth:

185888.87

Amount : 185888.87

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