he

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

פּוֹפּוּלָרִי Word Problems >

Mackenzie opened a savings account and deposited 1,074.00 as principal. The account earns 11% interest, compounded quarterly. What is the balance after 7 years?

פתרון

M a c k e n z i e o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 1, 074.00 a s p r in c i p a l . T h e a cco u n t e a r n s 11% in t eres t, co m p o u n d e d q u a r t er l y . Wha t i s t h e ba l an ce a f t er 7 ye a rs ?

פתרון

Amount : 2295.6

צעדי פתרון

Translate the problem into an equation:

A = 1074 (1 + \frac{0.11}{4})^{4 \cdot 7}

1074 (1 + \frac{0.11}{4})^{4 \cdot 7} = 2295.59640 \dots

Round to the nearest hundredth:

2295.6

Amount : 2295.6

דוגמאות פופולריות

One number is two more than another. Their sum is 4 Elsa took out a 2-year loan to buy a car at a 6% simple interest rate. If she has to pay 264 in interest, how much principal did she borrow?number retta 2/3 , 5/3 A number has the property that the square root of 3 less than the number, increased by the square root of 4more than the number is 7. Find the number.You deposit 5000 in an account earning 6% interest compounded continuously. How much will you have in the account in 10 years?