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Popolare Word Problems >

Find the amount in the account for the given principal, interest rate, time, and compounding period.Pequals1,900, requals3.5%, tequals4 years; compounded daily

Soluzione

F in d t h e am o u n t in t h e a cco u n t f or t h e g i v e n ​ p r in c i p a l, in t eres t ​ r a t e, t im e, an d co m p o u n d in g p er i o d . P e q u a l s ​1, 900​, re q u a l s 3.5​%, t e q u a l s 4 ​ ye a rs; co m p o u n d e d d ai l y

Soluzione

Amount : 2185.51

Fasi della soluzione

Translate the problem into an equation:

A = 1900 (1 + \frac{0.035}{365})^{365 \cdot 4}

1900 (1 + \frac{0.035}{365})^{365 \cdot 4} = 2185.50554 \dots

Arrotondare all' hundredth più vicino:

2185.51

Amount : 2185.51

Esempi popolari

find the area of a circle with a diametro of 35.2.cm A loan of 14,000 is made at 6.75% interest, compounded annually. After how many years will the amount due reach 35,000 or more?the sum of a positive number and its square is 30. Find the numbers The radius of a cerchio is 15 cm. Find its area to the nearest whole number.A die is rolled 9 times. Find the probability of rolling no more than 2 ones