en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Find the future value.3169 invested for 4 years at 3% compounded annually

Solution

F in d t h e f u t u re v a l u e .3169 in v es t e d f or 4 ye a rs a t 3% co m p o u n d e d ann u a ll y

Solution

Amount : 3566.74

Solution steps

Translate the problem into an equation:

A = 3169 (1 + \frac{0.03}{1})^{1 \cdot 4}

3169 (1 + \frac{0.03}{1})^{1 \cdot 4} = 3566.73741 \dots

Round to the nearest hundredth:

3566.74

Amount : 3566.74

Popular Examples

How long does it take a population of 4500 to double at a rate of 3.22%the half of the sum of two odd consecutive numbers The difference between eight times a number and 12 is 36 . Find the number.:Thrice a number, decreased by 3 , is the same as twice the number, increased 1 five times the square of a nonzero number is equal to ten times the number Brad inherited some money from his grandfather and put it in a bank account that earns 7% interest compounded annually. After 2 years, Brad had 800.00 in the bank account. How much interest did he earn?Round your answer to the nearest cent.