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人気のある Word Problems >

If 240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years?

解

I f 240 i s in v es t e d a t an in t eres t r a t e o f 9% p er ye a r an d i s co m p o u n d e d m o n t h l y, h o w m u c h w i ll t h e in v es t m e n t b e w or t h in 14 ye a rs ?

解

Amount : 842.13

解答ステップ

Translate the problem into an equation:

A = 240 (1 + \frac{0.09}{12})^{12 \cdot 14}

240 (1 + \frac{0.09}{12})^{12 \cdot 14} = 842.13254 \dots

最も近い

h u n d re d t h

に四捨五入:

842.13

Amount : 842.13

人気の例

If 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to 7500 at 8%?Malik deposits 5000 in an account that pays 3.9% interest compounded continuously. What will be the value of the account in 8 years?If 535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?How much money will there be in an account at the end of 8 years if 1,100 is deposited at a 5.5% annual rate that is compounded continuously 2200 dollars is placed in an account with an annual interest rate of 7.25%. How much will be in the account after 29 years, to the nearest cent?