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Популярное Word Problems >

Maraheb’s parents invested 14,000 at 3% interest compounded quarterly. How much money will be in the account after 10 years

Решение

M a r ah e b ’ s p a re n t s in v es t e d 14, 000 a t 3% in t eres t co m p o u n d e d q u a r t er l y . Ho w m u c h m o n ey w i ll b e in t h e a cco u n t a f t er 10 ye a rs

Решение

Amount : 18876.88

Шаги решения

Translate the problem into an equation:

A = 14000 (1 + \frac{0.03}{4})^{4 \cdot 10}

14000 (1 + \frac{0.03}{4})^{4 \cdot 10} = 18876.88057 \dots

Округлите до ближайшего hundredth:

18876.88

Amount : 18876.88

Популярные примеры

The square root of the sum of two consecutive integers is 7. Find the two integers.Find the area of a circle with a диаметр of 16.the sum of two numbers is 25. Their разность is 7.Rick inherited some money from his grandfather and put it in a bank account that earns 4% interest compounded annually. After 7 years, Rick had 700.00 in the bank account. How much interest did he earn? write answer with three decimals Shannon found a pair of shoes at the Outlets that were 50 but they are now 25% off. What is the sale price of the shoes?