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شائع Word Problems >

Tiana deposited 60 in an account earning 10% interest compounded annually.To the nearest cent, how much will she have in 3 years?

الحلّ

T iana d e p os i t e d 60 in an a cco u n t e a r nin g 10% in t eres t co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h w i ll s h e ha v e in 3 ye a rs ?

الحلّ

Amount : 79.86

خطوات الحلّ

Translate the problem into an equation:

A = 60 (1 + \frac{0.1}{1})^{1 \cdot 3}

60 (1 + \frac{0.1}{1})^{1 \cdot 3} = 79.86

Amount : 79.86

أمثلة شائعة

If 41,500 is deposited in an account at 1.4% annual interest, compounded monthly, how much money will be in the account after 11 years?You deposit 550 in an account that pays 5% annual interest. What is the balance after 3 years if the interest is compounded monthly?Jasmine deposited 700 in an account earning 9% interest compounded annually.To the nearest cent, how much will she have in 1 year?How many years will it take for an initial investment of 10,000 to grow to 25,000 at an interest rate of 6% compounded continuously?You deposit 5000 in an account earning 2% interest compounded continuously. How much will you have in the account in 15 years?