it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Find the balance if Callie invests the 9000 in a money market fund that earns 2.95% compounded daily for 8 years. Round to the nearest cent.

Soluzione

F in d t h e ba l an ce i f C a ll i e in v es t s t h e 9000 in a m o n ey ma r k e t f u n d t ha t e a r n s 2.95% co m p o u n d e d d ai l y f or 8 ye a rs . R o u n d t o t h e n e a res t ce n t .

Soluzione

Amount : 11395.46

Fasi della soluzione

Translate the problem into an equation:

A = 9000 (1 + \frac{0.0295}{365})^{365 \cdot 8}

9000 (1 + \frac{0.0295}{365})^{365 \cdot 8} = 11395.46011 \dots

Arrotondare all' hundredth più vicino:

11395.46

Amount : 11395.46

Esempi popolari

the quotient of a number and 7 decreased by 9 the sum of two consecutive integers is 193 Two more than the product of a number and 9 is equal to 4 the sum of three consecutive numbers is eighty-four. what is the smallest number The differenza of four times a number and 8 is 15