fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

You deposit 60 in an investment account that earns 2.1% annual interest compounded annually.What is the balance of the account after 8 years?

Solution

Y o u d e p os i t 60 in an in v es t m e n t a cco u n t t ha t e a r n s 2.1% ann u a l in t eres t co m p o u n d e d ann u a ll y . Wha t i s t h e ba l an ce o f t h e a cco u n t a f t er 8 ye a rs ?

Solution

Amount : 70.85

étapes des solutions

Translate the problem into an equation:

A = 60 (1 + \frac{0.021}{1})^{1 \cdot 8}

60 (1 + \frac{0.021}{1})^{1 \cdot 8} = 70.85282 \dots

Arrondir à hundredth la plus proche:

70.85

Amount : 70.85

Exemples populaires

The sum of 3 consecutive even numbers is 132 .What is the third number in this sequence?What is the volume of a sphere with a rayon of 41.8 in, rounded to the nearest tenth of a cubic inch?15 fewer than a number Next year my niece will be twice as old as she was six years ago. How old is she now Nishi invests £4600 at 6% interest per year. Work out how much she will have altogether after 9 years