ru

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Популярное Word Problems >

You want to have 300,000 when you retire in 20 years. If you can earn 6% interest compounded monthly, how much would you need to deposit now into the account to reach your retirement goal?

Решение

Y o u w an t t o ha v e 300, 000 w h e n yo u re t i re in 20 ye a rs . I f yo u c an e a r n 6% in t eres t co m p o u n d e d m o n t h l y, h o w m u c h w o u l d yo u n ee d t o d e p os i t n o w in t o t h e a cco u n t t o re a c h yo u r re t i re m e n t g o a l ?

Решение

Principal : 90628.84

Шаги решения

Translate the problem into an equation:

300000 = P (1 + \frac{0.06}{12})^{12 \cdot 20}

Решите для

P, 300000 = P (1 + \frac{0.06}{12})^{12 \cdot 20} : P = 90628.84

Principal : 90628.84

Популярные примеры

Miko's age seven years from now will be three less than twice his age three years ago. Find Miko's present age.Austen and Molly deposit 800.00 into a savings account which earns 2% interest compounded annually. They want to use the money in the account to go on a trip in 2 years. How much will they be able to spend?Arianna invests 5600 in a new savings account which earns 5.3% annual interest, compounded continuously. What will be the value of her investment after 9 years? Round to the nearest cent.Diane opened a savings account and deposited 9,278.00 as principal. The account earns 3.11% interest, compounded quarterly. What is the balance after 4 years?A store pays 46 for a ceramic vase.The store marks up the price by 15%.What is the amount of the mark-up?