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شائع Word Problems >

Zack puts 500.00 into an account to use for school expenses. The account earns 12% interest, compounded annually. How much will be in the account after 10 years?

الحلّ

Z a c k p u t s 500.00 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 12% 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 ?

الحلّ

Amount : 1552.92

خطوات الحلّ

Translate the problem into an equation:

A = 500 (1 + \frac{0.12}{1})^{1 \cdot 10}

500 (1 + \frac{0.12}{1})^{1 \cdot 10} = 1552.92410 \dots

Round to the nearest hundredth:

1552.92

Amount : 1552.92

أمثلة شائعة

Six less than twice a number x is four.The value of sqrt(8) is between which two consecutive integers?Eight more than the product of a number and 4 equals 3 Seven less than the product of 3 and a number is equal to 8 .Determine the simple interest earned on 22,500after 15 years if the APR is 6%.