vi

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Phổ biến Word Problems >

Mason opened a savings account and deposited 2,000.00 as principal. The account earns 4% interest, compounded monthly. What is the balance after 7 years?

Lời Giải

M a so n o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 2, 000.00 a s p r in c i p a l . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d m o n t h l y . Wha t i s t h e ba l an ce a f t er 7 ye a rs ?

Lời Giải

Amount : 2645.03

Các bước giải pháp

Translate the problem into an equation:

A = 2000 (1 + \frac{0.04}{12})^{12 \cdot 7}

2000 (1 + \frac{0.04}{12})^{12 \cdot 7} = 2645.02772 \dots

Làm tròn đến hundredth gần nhất:

2645.03

Amount : 2645.03

Ví dụ phổ biến

What is the present value of 50,000 which you are to receive 20 years from now, assuming that the inflation rate for the next 20 years will be about 4% per year?A number multiplied by 3 and divided by 8.36 is 90% of what number a single die is tossed, what is the probability of getting number less than 3 Eduardo opened a savings account and deposited 100.00. The account earns 10% interest, compounded monthly. If he wants to use the money to buy a new bicycle in 2 years, how much will he be able to spend on the bike?