he

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

פּוֹפּוּלָרִי Word Problems >

Carson invested 3,900 in an account paying an interest rate of 2.1% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 14 years?

פתרון

C a rso n in v es t e d 3, 900 in an a cco u n t p a y in g an in t eres t r a t e o f 2.1% co m p o u n d e d m o n t h l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey, t o t h e n e a res t t e n d o ll a rs, w o u l d b e in t h e a cco u n t a f t er 14 ye a rs ?

פתרון

Amount : 5231.61

צעדי פתרון

Translate the problem into an equation:

A = 3900 (1 + \frac{0.021}{12})^{12 \cdot 14}

3900 (1 + \frac{0.021}{12})^{12 \cdot 14} = 5231.61278 \dots

Round to the nearest hundredth:

5231.61

Amount : 5231.61

דוגמאות פופולריות

4400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 29 years, to the nearest cent?Luther opened a savings account and deposited 200.00. The account earns 13% interest, compounded continuously. If he wants to use the money to buy a new bicycle in 1 year, how much will he be able to spend on the bike?If a hat costs 4.20 after a 40% discount, what was its original price?One number is 3 more than twice the other number. If the sum of the two numbers is 18, find the two numbers.Joshua invested 97,000 in an account paying an interest rate of 6% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 8 years?