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Popular Word Problems >

Laura has 71,200 in a savings account that earns 7% annually.The interest is not compounded. How much will she have in total in 4 years?

Solution

L a u r a ha s 71, 200 in a s a v in g s a cco u n t t ha t e a r n s 7% ann u a ll y . T h e in t eres t i s n o t co m p o u n d e d . Ho w m u c h w i ll s h e ha v e in t o t a l in 4 ye a rs ?

Solution

Amount : 91136

Solution steps

Translate the problem into an equation:

A = 71200 (1 + 0.07 \cdot 4)

71200 (1 + 0.07 \cdot 4) = 91136

Amount : 91136

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