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פּוֹפּוּלָרִי Word Problems >

Sam deposited 3500 into the bank. The account earns 2% interest compounded annually. What is his balance at the end of 8 years?

פתרון

S am d e p os i t e d 3500 in t o t h e bank . T h e a cco u n t e a r n s 2% in t eres t co m p o u n d e d ann u a ll y . Wha t i s hi s ba l an ce a t t h e e n d o f 8 ye a rs ?

פתרון

Amount : 4100.81

צעדי פתרון

Translate the problem into an equation:

A = 3500 (1 + \frac{0.02}{1})^{1 \cdot 8}

3500 (1 + \frac{0.02}{1})^{1 \cdot 8} = 4100.80783 \dots

Round to the nearest hundredth:

4100.81

Amount : 4100.81

דוגמאות פופולריות

How much money will there be in an account at the end of 5 years if 8000 dollars is deposited at 4% interest compounded semi-annually A principal of 3300 is invested at 7.25% interest, compounded annually. How much will the investment be worth after 7 years?Lola has 70 in an account that earns 10% interest compounded annually.To the nearest cent, how much interest will she earn in 1 year?What is the interest of 0.93 dollars if invested at 2.25 percent compounded annually in 1000 years?Five less than three times a number is 40. Find the number.