You invest 1,560 for 20 years that compounds interest at 4.50% per annum. What proportion of the future value at the end of year 20 is made up of the interest on the interest? Please give your answer to two decimal places.

해법

Y o u in v es t 1, 560 f or 20 ye a rs t ha t co m p o u n d s in t eres t a t 4.50% p er ann u m . Wha t p ro p or t i o n o f t h e f u t u re v a l u e a t t h e e n d o f ye a r 20 i s ma d e u p o f t h e in t eres t o n t h e in t eres t ? Pl e a se g i v e yo u r an s w er t o tw o d ec ima l pl a ces .

Amount : 3762.27

솔루션 단계

Translate the problem into an equation:

A = 1560 (1 + \frac{0.045}{1})^{1 \cdot 20}

1560 (1 + \frac{0.045}{1})^{1 \cdot 20} = 3762.27387 \dots

가장 가까운 hundredth 으로 반올림:

3762.27

Amount : 3762.27