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Populaire Word Problems >

You deposit 6000 in an account earning 4.5% interest compounded weekly. How much will you have in the account in 6 years from now?

Solution

Y o u d e p os i t 6000 in an a cco u n t e a r nin g 4.5% in t eres t co m p o u n d e d w ee k l y . Ho w m u c h w i ll yo u ha v e in t h e a cco u n t in 6 ye a rs f ro m n o w ?

Solution

Amount : 7858.87

étapes des solutions

Translate the problem into an equation:

A = 6000 (1 + \frac{0.045}{52})^{52 \cdot 6}

6000 (1 + \frac{0.045}{52})^{52 \cdot 6} = 7858.86905 \dots

Arrondir à hundredth la plus proche:

7858.87

Amount : 7858.87

Exemples populaires

The sum of a positive number and 22 is 48 times the reciprocal of the number. Find the number When 50% of a number is added to the number, the result is 225.three time square of number Six times a number plus eight is 56:Find the number Sasha opened a savings account and deposited 200.00. The account earns 13% interest, compounded annually. If she wants to use the money to buy a new bicycle in 3 years, how much will she be able to spend on the bike?