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Popolare Word Problems >

7900 dollars is placed in an account with an annual interest rate of 5.5%. How much will be in the account after 11 years, to the nearest cent?

Soluzione

7900 d o ll a rs i s pl a ce d in an a cco u n t w i t h an ann u a l in t eres t r a t e o f 5.5%. Ho w m u c h w i ll b e in t h e a cco u n t a f t er 11 ye a rs, t o t h e n e a res t ce n t ?

Soluzione

Amount : 12679.5

Fasi della soluzione

Translate the problem into an equation:

A = 7900 (1 + 0.055 \cdot 11)

7900 (1 + 0.055 \cdot 11) = 12679.5

Amount : 12679.5

Esempi popolari

You deposit 5000 in an account earning 8% interest compounded monthly. How much will you have in the account in 5 years?what amount must be deposited by a student that pays 2% compounded annually so that after 12 years he will have 100,000 What is the compound amount on a loan of ₱50,000 at 6% for 6 years compounded semi-annually?ASUM OF RS 12000 amounts to rupees 17500 in 6 years at the a compound interest compounded half yearly.what is the rate of interest what is the compound of 15900 at 5.5 percent interest compound annually for 2 years