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Populaire Word Problems >

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?

Solution

J e nn y d e p os i t e d 4000 in t o an a cco u n t w i t h 5.7% in t eres t, co m p o u n d e d se miann u a ll y . A ss u min g t ha t n o w i t h d r a w a l s a re ma d e, h o w m u c h w i ll s h e ha v e in t h e a cco u n t a f t er 4 ye a rs ?

Solution

Amount : 5008.35

étapes des solutions

Translate the problem into an equation:

A = 4000 (1 + \frac{0.057}{2})^{2 \cdot 4}

4000 (1 + \frac{0.057}{2})^{2 \cdot 4} = 5008.34640 \dots

Arrondir à hundredth la plus proche:

5008.35

Amount : 5008.35

Exemples populaires

Carlos needs 4300 for a future project. He can invest 2000 now at an annual rate of 10% , compounded quarterly. Assuming that no withdrawals are made, how long will it take for him to have enough money for his project?the sum of 2 numbers is 49. the larger number is 11 more than the smaller one. what are the numbers?find the present value of \$60000 due 8 years later at 6.6%, compounded continuously gina is 4 years yunger than twice David's age. Gina is 18 . How old is davis one number is eight times another number. Their sum is 36. What are the numbers?