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Popolare Word Problems >

Suppose that a loan of 2,500 is given at an interest rate of 8% compounded each year. find the amount owed after 1 year

Soluzione

S u pp ose t ha t a l o an o f 2, 500 i s g i v e n a t an in t eres t r a t e o f 8% co m p o u n d e d e a c h ye a r . f in d t h e am o u n t o w e d a f t er 1 ye a r

Soluzione

Amount : 2700

Fasi della soluzione

Translate the problem into an equation:

A = 2500 (1 + \frac{0.08}{1})^{1 \cdot 1}

2500 (1 + \frac{0.08}{1})^{1 \cdot 1} = 2700

Amount : 2700

Esempi popolari

The sum of 3 consecutive even numbers is 182 four less than double a number is 12 Let x represent one number and let y represent the other number. Use the following conditions to write a system of nonlinear equations. Solve the system and find the numbers.:The sum of two numbers is 8 and the product of the two numbers is 15.Find the accumulated value of an investment of 7000 at 7% compounded continuously for 3 years.The sum of 4 consecutive integers is 326.