en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Suppose that 1200 is invested at 612% , compounded quarterly. How much is in the account at the end of 5 years?

Solution

S u pp ose t ha t 1200 i s in v es t e d a t 612%, co m p o u n d e d q u a r t er l y . Ho w m u c h i s in t h e a cco u n t a t t h e e n d o f 5 ye a rs ?

Solution

Amount : 138545259220.06

Solution steps

Translate the problem into an equation:

A = 1200 (1 + \frac{6.12}{4})^{4 \cdot 5}

1200 (1 + \frac{6.12}{4})^{4 \cdot 5} = 138545259220.05893

Round to the nearest hundredth:

138545259220.06

Amount : 138545259220.06

Popular Examples

How much would you need to deposit in an account now in order to have 6000 in the account in 10 years? Assume the account earns 8% interest compounded monthly.The sum of Kim’s and Kevin’s age is 18. In 3 years, Kim will be twice as old as Kevin.What are their ages now?The quotient of a number and 11 After 1 year, the father's age will be 4 times the age of his son. After 5 years, the father's age will be three times the age of his son. Find the age of the father and his son.The diameter of a circle is 3 in. Find its area