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Populaire Word Problems >

Akira is saving up money to buy a car. Akira puts 5,000.00 into an account which earns 7% interest, compounded quarterly. How much will she have in the account after 10 years?

Solution

A ki r a i s s a v in g u p m o n ey t o b u y a c a r . A ki r a p u t s 5, 000.00 in t o an a cco u n t w hi c h e a r n s 7% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h w i ll s h e ha v e in t h e a cco u n t a f t er 10 ye a rs ?

Solution

Amount : 10007.99

étapes des solutions

Translate the problem into an equation:

A = 5000 (1 + \frac{0.07}{4})^{4 \cdot 10}

5000 (1 + \frac{0.07}{4})^{4 \cdot 10} = 10007.98671 \dots

Arrondir à hundredth la plus proche:

10007.99

Amount : 10007.99

Exemples populaires

If a circle has a diamètre of 32in ,:what is the radius?Tom has a circular clock with a circonférence of 39.88 inches. What is the radius of Tom's clock, to the nearest hundredth of an inch?Seven less than 3 times the sum of a number and 5 is at most 11. Find all numbers that satisfy this condition Rafi puts 6,000.00 into an account to use for school expenses. The account earns 12% interest, compounded annually. How much will be in the account after 8 years?the sum of 6 times a number and 3 equals 8.