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Popolare Word Problems >

Angela deposits 4500 into an account with an APR of 3.3% for 8 years. Find the future value of the account if interest is compounded weekly. Round your answer to two decimal places.

Soluzione

A n g e l a d e p os i t s 4500 in t o an a cco u n t w i t h an A PR o f 3.3% f or 8 ye a rs . F in d t h e f u t u re v a l u e o f t h e a cco u n t i f in t eres t i s co m p o u n d e d w ee k l y . R o u n d yo u r an s w er t o tw o d ec ima l pl a ces .

Soluzione

Amount : 5859.09

Fasi della soluzione

Translate the problem into an equation:

A = 4500 (1 + \frac{0.033}{52})^{52 \cdot 8}

4500 (1 + \frac{0.033}{52})^{52 \cdot 8} = 5859.08625 \dots

Amount : 5859.08625 \dots

Arrotonda

5859.08625 \dots

al più vicino 2 decimal places:

5859.09

Amount : 5859.09

Esempi popolari

The differenza between five and twice a number, x, is one.the differenza between seven and the product of five and a number is thirty-seven 60 is 25% of what number A couple deposits 15,000into an account earning 5% annual interest for 20 years. Calculate the future value of the investment if the interest is compounded weekly. Round your answer to the nearest cent.The product of two consecutive positive even integers is 528. Find the two integers.