en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

A principal of \$4200 is invested at 6.25% interest, compounded annually. How much will the investment be worth after 11 years?

Solution

A p r in c i p a l o f $4200 i s in v es t e d a t 6.25% 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 t h e in v es t m e n t b e w or t h a f t er 11 ye a rs ?

Solution

Amount : 8182.15

Solution steps

Translate the problem into an equation:

A = 4200 (1 + \frac{0.0625}{1})^{1 \cdot 11}

4200 (1 + \frac{0.0625}{1})^{1 \cdot 11} = 8182.15337 \dots

Round to the nearest hundredth:

8182.15

Amount : 8182.15

Popular Examples

if the highest number in time is 3 and the highest number in hight is 48 The difference of a number and 6 decreased by two is twelve.a loan of 22,000 was worth 30,000 after 7 years. calculate the interest rate Two fair dice are thrown together. What is the probability of rolling a total of 7?Fred is 4 years older than Barney. 5 years ago the sum of their age was 50. How old are they now