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Lisa deposited\$4000 into an account with 5.8% interest, compounded annually. Assuming that no withdrawals are made, how much will she have in the account after 10 years?

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解答

Lisadeposited$4000intoanaccountwith5.8%interest,compoundedannually.Assumingthatnowithdrawalsaremade,howmuchwillshehaveintheaccountafter10years?

解答

Amount:7029.37
求解步骤
Translate the problem into an equation:A=4000(1+10.058​)1⋅10
4000(1+10.058​)1⋅10=7029.37428…
Round to the nearest hundredth:7029.37
Amount:7029.37

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