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شائع Word Problems >

Angela deposits 2000 into an account with an APR of 4.9% for 11 years. Find the future value of the account if interest is compounded weekly. Round your answer to two decimal places.

الحلّ

A n g e l a d e p os i t s 2000 in t o an a cco u n t w i t h an A PR o f 4.9% f or 11 ye a rs . F in d t h e f u t u re v a l u e o f t h e a cco u n t i f in t eres t i s co m p o u n d e d w ee k l y . R o u n d yo u r an s w er t o tw o d ec ima l pl a ces .

الحلّ

Amount : 3427.71

خطوات الحلّ

Translate the problem into an equation:

A = 2000 (1 + \frac{0.049}{52})^{52 \cdot 11}

2000 (1 + \frac{0.049}{52})^{52 \cdot 11} = 3427.71338 \dots

Amount : 3427.71338 \dots

Round

3427.71338 \dots

to the nearest 2 decimal places:

3427.71

Amount : 3427.71

أمثلة شائعة

Four times a number is equal to 25 decreased by the number The product of 10 and a number is 3 less than the number Six less than a number divided by four is two A square name tag has sides that are 8 centimeters long. What is the name tag's perimeter?Jenny deposited 4000 into an account with 5.7% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 4 years?