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Beliebt Word Problems >

Eva invests 8100 in a new savings account which earns 4.5% annual interest, compounded semi-annually. What will be the value of her investment after 2 years? Round to the nearest cent.

Lösung

E v a in v es t s 8100 in a n e w s a v in g s a cco u n t w hi c h e a r n s 4.5% ann u a l in t eres t, co m p o u n d e d se mi - ann u a ll y . Wha t w i ll b e t h e v a l u e o f h er in v es t m e n t a f t er 2 ye a rs ? R o u n d t o t h e n e a res t ce n t .

Lösung

Amount : 8853.97

Schritte zur Lösung

Translate the problem into an equation:

A = 8100 (1 + \frac{0.045}{2})^{2 \cdot 2}

8100 (1 + \frac{0.045}{2})^{2 \cdot 2} = 8853.97488 \dots

Round to the nearest hundredth:

8853.97

Amount : 8853.97

Beliebte Beispiele

three less than four multiplied by a number Harper invested 72,000 in an account paying an interest rate of 2% compounded monthly. 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 82,600?Jace invested 8,300 in an account paying an interest rate of 6.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 14 years?A number squared and multiplied by 5.Brody invested 2,800 in an account paying an interest rate of 2.7% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 3,560?