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인기 있는 Word Problems >

Kyle invested 15,000 in a savings account. If the interest rate is 5% per year, how much will be in the account in 10 years with monthly compounding?

해법

Ky l e in v es t e d 15, 000 in a s a v in g s a cco u n t . I f t h e in t eres t r a t e i s 5% p er ye a r, h o w m u c h w i ll b e in t h e a cco u n t in 10 ye a rs w i t h m o n t h l y co m p o u n d in g ?

해법

Amount : 24705.14

솔루션 단계

Translate the problem into an equation:

A = 15000 (1 + \frac{0.05}{12})^{12 \cdot 10}

15000 (1 + \frac{0.05}{12})^{12 \cdot 10} = 24705.14246 \dots

가장 가까운 hundredth 으로 반올림:

24705.14

Amount : 24705.14

인기 있는 예

Grace opened a savings account and deposited 300.00 as principal. The account earns 4% interest, compounded annually. What is the balance after 5 years?If the store has a 20% of sale, what is the original value of the goods she can now buy with a 100 voucher?42 is 8% of what number Find the time required for an investment of 5000 dollars to grow to 8700 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t= years. You may enter the 정확한 value or round to 2 decimal places.160% of what number is 56