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Populaire Word Problems >

if man deposits 6000 in a bank account which pays 5 percent in a year. find the value of his deposit after 4 years

Solution

i f man d e p os i t s 6000 in a bank a cco u n t w hi c h p a ys 5 p erce n t in a ye a r . f in d t h e v a l u e o f hi s d e p os i t a f t er 4 ye a rs

Solution

Amount : 7200

étapes des solutions

Translate the problem into an equation:

A = 6000 (1 + 0.05 \cdot 4)

6000 (1 + 0.05 \cdot 4) = 7200

Amount : 7200

Exemples populaires

Ayana puts 6,000.00 into an account to use for school expenses. The account earns 1% interest, compounded quarterly. How much will be in the account after 8 years?Lakeside had 380,440 residents at the time of its founding. Currently it is 10% smaller. What is the current population?Four times the sum of a number and 29 is at most 24.87 times a number minus 8 is equal to −42 less than the number You deposit 3000 in an account earning 1200% interest compounded monthly. How much will you have in the account in 48.56 years?