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شائع Word Problems >

Joann invested 43,700 at 12% to be compounded monthly. What will be the value of Joann's investment in 4 years? Round your answer to the nearest cent, if necessary.

الحلّ

J o ann in v es t e d 43, 700 a t 12% t o b e co m p o u n d e d m o n t h l y . Wha t w i ll b e t h e v a l u e o f J o an n^{'} s in v es t m e n t in 4 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, i f n ecess a ry .

الحلّ

Amount : 70454.28

خطوات الحلّ

Translate the problem into an equation:

A = 43700 (1 + \frac{0.12}{12})^{12 \cdot 4}

43700 (1 + \frac{0.12}{12})^{12 \cdot 4} = 70454.27959 \dots

Round to the nearest hundredth:

70454.28

Amount : 70454.28

أمثلة شائعة

Twice a number added to 13 is equal to 27. What is the number?The product of two consecutive odd integers is equal to 30 more than the first. Find the integers.one less than four times a number is 11 Zara got 84% on her quiz. How many mark are those out of 25?Susan loaned Adam 7550 at an interest rate of 15% for 3 years. How much will Adam pay Susan at the end of 3 years? Round your answer to the nearest cent, if necessary.