en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the account after 24 years, to the nearest cent?

Solution

7700 d o ll a rs i s pl a ce d in an a cco u n t w i t h an ann u a l in t eres t r a t e o f 5.75%. Ho w m u c h w i ll b e in t h e a cco u n t a f t er 24 ye a rs, t o t h e n e a res t ce n t ?

Solution

Amount : 18326

Solution steps

Translate the problem into an equation:

A = 7700 (1 + 0.0575 \cdot 24)

7700 (1 + 0.0575 \cdot 24) = 18326

Amount : 18326

Popular Examples

a number minus 6 Peyton invested 690 in an account paying an interest rate of 5.6% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 8 years?twice the difference between a number x and 7.Dylan invested 93,000 in an account paying an interest rate of 3% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 17 years?5/4 on a number reta