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Popolare Word Problems >

Brenda invests 4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?

Soluzione

B re n d a in v es t s 4, 848 in a s a v in g s a cco u n t w i t h a f i x e d ann u a l in t eres t r a t e o f 5% co m p o u n d e d 2 t im es p er ye a r . Wha t w i ll t h e a cco u n t ba l an ce b e a f t er 6 ye a rs ?

Soluzione

Amount : 6520.02

Fasi della soluzione

Translate the problem into an equation:

A = 4848 (1 + \frac{0.05}{2})^{2 \cdot 6}

4848 (1 + \frac{0.05}{2})^{2 \cdot 6} = 6520.02101 \dots

Arrotondare all' hundredth più vicino:

6520.02

Amount : 6520.02

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