pt

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Max puts 700.00 into an account to use for school expenses. The account earns 14% interest, compounded annually. How much will be in the account after 8 years?

Solução

M a x p u t s 700.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 14% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 8 ye a rs ?

Solução

Amount : 1996.81

Passos da solução

Translate the problem into an equation:

A = 700 (1 + \frac{0.14}{1})^{1 \cdot 8}

700 (1 + \frac{0.14}{1})^{1 \cdot 8} = 1996.81049 \dots

Round to the nearest hundredth:

1996.81

Amount : 1996.81

Exemplos populares

eight less than a number 105% of what number is 37.8 You have 15,000 to invest in a retirement account. The fund increases at a rate of 10% compounded monthly. What will be the value of the investment at the end of 30 years? Round to the nearest dollar.Ruby invested 300 in an account paying an interest rate of 6.1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 13 years?Mario invested 280 at 8% interest compounded continuously. Write the exponential function to represent the situation and at what time will the total reach 1,000,000?