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Popolare Word Problems >

Lamar deposited 9,651 in an account earning 10% interest compounded annually.To the nearest cent, how much will he have in 4 years?

Soluzione

L ama r d e p os i t e d 9, 651 in an a cco u n t e a r nin g 10% in t eres t co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h w i ll h e ha v e in 4 ye a rs ?

Soluzione

Amount : 14130.03

Fasi della soluzione

Translate the problem into an equation:

A = 9651 (1 + \frac{0.1}{1})^{1 \cdot 4}

9651 (1 + \frac{0.1}{1})^{1 \cdot 4} = 14130.0291

Arrotondare all' hundredth più vicino:

14130.03

Amount : 14130.03

Esempi popolari

The product of two consecutive integers is 72:Find the integers.Find the balance if 19000 is invested in an account paying 4 % interest compounded monthly for 13 years.Use the multiplier method to increase 88 by 14%find the area of a cerchio with a radius of 5cm a number decreased by sixteen is equal to negative twenty-six