he

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

פּוֹפּוּלָרִי Word Problems >

Shelby opened a savings account and deposited 600.00 as principal. The account earns 8% interest, compounded annually. What is the balance after 3 years?Round your answer to the nearest cent.

פתרון

S h e l b y o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 600.00 a s p r in c i p a l . T h e a cco u n t e a r n s 8% in t eres t, co m p o u n d e d ann u a ll y . Wha t i s t h e ba l an ce a f t er 3 ye a rs ? R o u n d yo u r an s w er t o t h e n e a res t ce n t .

פתרון

Amount : 755.83

צעדי פתרון

Translate the problem into an equation:

A = 600 (1 + \frac{0.08}{1})^{1 \cdot 3}

600 (1 + \frac{0.08}{1})^{1 \cdot 3} = 755.8272

Round to the nearest hundredth:

755.83

Amount : 755.83

דוגמאות פופולריות

The circumference of a circle is 7pi ft. What is the area, in square feet? Express your answer in terms of pipi.You deposit 3000 in an account earning 6% interest compounded monthly. How much will you have in the account in 10 years?Round to the nearest penny.The sum of a number and negative 12 is three times the number decreased by 24. What is the number?If 500 yields 55.03 in simple interest over 5 years, what is the annual rate?4000 is invested for 14 years with an APR of 4% and monthly compounding. What is the balance after 14 years?