en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

4400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 22 years, to the nearest cent?

Solution

4400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 22 years, to the nearest cent?

Solution

Amount : 12386

Solution steps

Translate the problem into an equation:

A = 4400 (1 + 0.0825 \cdot 22)

4400 (1 + 0.0825 \cdot 22) = 12386

Amount : 12386

Popular Examples

Sophia is going to invest in an account paying an interest rate of 3.4% compounded monthly. How much would Sophia need to invest, to the nearest dollar, for the value of the account to reach 1,450 in 14 years?find the area of circle with a diameter of 1.4m Damian invested 880 in an account paying an interest rate of 5.2% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 1,290?Dominic invested 19,000 in an account paying an interest rate of 6.1% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 16 years?The product of-6 and a number is no less than-12.