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פּוֹפּוּלָרִי Word Problems >

Tyler deposited 1000 in a savings bond. The account earns 1.11% APR compounded annually. Find the balance after 12 years.

פתרון

T y l er d e p os i t e d 1000 in a s a v in g s b o n d . T h e a cco u n t e a r n s 1.11% A PR co m p o u n d e d ann u a ll y . F in d t h e ba l an ce a f t er 12 ye a rs .

פתרון

Amount : 1141.64

צעדי פתרון

Translate the problem into an equation:

A = 1000 (1 + \frac{0.0111}{1})^{1 \cdot 12}

1000 (1 + \frac{0.0111}{1})^{1 \cdot 12} = 1141.64038 \dots

Round to the nearest hundredth:

1141.64

Amount : 1141.64

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