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Popular Word Problems >

Find the future value of\$4643.31 invested for 8 years at 4% compounded monthly

Solución

F in d t h e f u t u re v a l u e o f $4643.31 in v es t e d f or 8 ye a rs a t 4% co m p o u n d e d m o n t h l y

Solución

Amount : 6391.03

Pasos de solución

Translate the problem into an equation:

A = 4643.31 (1 + \frac{0.04}{12})^{12 \cdot 8}

4643.31 (1 + \frac{0.04}{12})^{12 \cdot 8} = 6391.02922 \dots

Redondear al más cercano hundredth:

6391.03

Amount : 6391.03

Ejemplos populares

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