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Popular Word Problems >

Find the final value if 5800 is invested for 11 years at 12.4% p.a

Solution

solve for

t h e f ina l v a l u e i f 5800 i s in v es t e d f or 11 ye a rs a t 12.4% p . a

Solution

Amount : 13711.2

Solution steps

Translate the problem into an equation:

A = 5800 (1 + 0.124 \cdot 11)

5800 (1 + 0.124 \cdot 11) = 13711.2

Amount : 13711.2

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