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Populaire Word Problems >

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?

Solution

A y ana p u t s 6, 000.00 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 1% in t eres t, co m p o u n d e d q u a r t er l 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 8 ye a rs ?

Solution

Amount : 6499.07

étapes des solutions

Translate the problem into an equation:

A = 6000 (1 + \frac{0.01}{4})^{4 \cdot 8}

6000 (1 + \frac{0.01}{4})^{4 \cdot 8} = 6499.07354 \dots

Arrondir à hundredth la plus proche:

6499.07

Amount : 6499.07

Exemples populaires

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?a circular plate has circonférence 33.9 inches what is the area of this plate use 3.14 for pi