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Beliebt Word Problems >

Antonio is saving up money to buy a car. Antonio puts 10,000.00 into an account which earns 12% interest, compounded annually. How much will he have in the account after 7 years?

Lösung

A n t o ni o i s s a v in g u p m o n ey t o b u y a c a r . A n t o ni o p u t s 10, 000.00 in t o an a cco u n t w hi c h e a r n s 12% 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 h e ha v e in t h e a cco u n t a f t er 7 ye a rs ?

Lösung

Amount : 22106.81

Schritte zur Lösung

Translate the problem into an equation:

A = 10000 (1 + \frac{0.12}{1})^{1 \cdot 7}

10000 (1 + \frac{0.12}{1})^{1 \cdot 7} = 22106.81407 \dots

Round to the nearest hundredth:

22106.81

Amount : 22106.81

Beliebte Beispiele

a number that when decreased by 60% is 40 Wyatt inherited some money from his grandfather and put it in a bank account that earns 14% interest compounded monthly. After 10 years, Wyatt had 1, 000.00 in the bank account. How much interest did he earn?Round your answer to the nearest cent.What is the result when the number 90 is decreased by 50%?A number x increased by 7 is at most 26 the differenz of a number and 15 is less than or equal to 38