en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Jenna put 4,000 in a retirement account that offers 7% interest compounded annually. She makes no additional deposits or withdrawals. How much interest will she have earned at the end of 5 years?

Solution

J e nna p u t 4, 000 in a re t i re m e n t a cco u n t t ha t o ff ers 7% in t eres t co m p o u n d e d ann u a ll y . S h e mak es n o a dd i t i o na l d e p os i t s or w i t h d r a w a l s . Ho w m u c h in t eres t w i ll s h e ha v e e a r n e d a t t h e e n d o f 5 ye a rs ?

Solution

Interest : 1610.21

Solution steps

Translate the problem into an equation:

5610.20692 \dots = 4000 + I

Solve for

I, 5610.20692 \dots = 4000 + I : I = 1610.21

Interest : 1610.21

Popular Examples

Write the statement the sum of a number and 17.3 is at least-2.8 as an inequality.Negative nine equals a number plus five.real number 1/9 Ben had 1 apple. He went to the store and got 5 times as many. How many does he have now The circumference of a circle is 17pi cm. What is the area, in square centimeters?