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Popular Word Problems >

How much money should be deposited today in an account that earns 4 % compounded semiannually so that it will accumulate to 13 comma 000 in three years?

Solução

Ho w m u c h m o n ey s h o u l d b e d e p os i t e d t o d a y in an a cco u n t t ha t e a r n s 4 % co m p o u n d e d se miann u a ll y so t ha t i t w i ll a cc u m u l a t e t o 13 co mma 000 in t h ree ​ ye a rs ?

Solução

Principal : 11.54

Passos da solução

Translate the problem into an equation:

13 = P (1 + \frac{0.04}{2})^{2 \cdot 3}

Resolver para

P, 13 = P (1 + \frac{0.04}{2})^{2 \cdot 3} : P = 11.54

Principal : 11.54

Exemplos populares

Kenji opened a savings account and deposited 300.00 as principal. The account earns 10% interest, compounded quarterly. What is the balance after 2 years?If Pepe has 1 apple and his brother give him 2 apples. How many apple does Pepe have five is the result when twenty three divides a number Harry opened a savings account and deposited 300.00 as principal. The account earns 7% interest, compounded quarterly. What is the balance after 10 years?Find two positive even consecutive integers such that the square of the smaller integer is 10 more than the larger integer.