de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

A 9300 investment earns interest at 4.4% p.a. compounded monthly over 14 years. Use the compound interest formula to calculate the value of this investment to the nearest cent.

Lösung

A 9300 in v es t m e n t e a r n s in t eres t a t 4.4% p . a . co m p o u n d e d m o n t h l y o v er 14 ye a rs . U se t h e co m p o u n d in t eres t f or m u l a t o c a l c u l a t e t h e v a l u e o f t hi s in v es t m e n t t o t h e n e a res t ce n t .

Lösung

Amount : 17199.63

Schritte zur Lösung

Translate the problem into an equation:

A = 9300 (1 + \frac{0.044}{12})^{12 \cdot 14}

9300 (1 + \frac{0.044}{12})^{12 \cdot 14} = 17199.62910 \dots

Round to the nearest hundredth:

17199.63

Amount : 17199.63

Beliebte Beispiele

calculate the 100% from the total of 175 Mark invests 2,558 in a retirement account with a fixed annual interest rate of 3% compounded 4 times per year.What will the account balance be after 16 years?the sum of two number is 26. the sum of 5 times the larger and 4 times the smaller is 127 find the numbers Find two consecutive whole numbers that lies sqrt(97) between.The bottom of a circular swimming pool has an area of 200.96 square feet.:What is the radius (in feet) of the swimming pool? Use 3.14 for pi