de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

Stefan is saving up money to buy a car. Stefan puts 5,813.00 into an account which earns 8.82% interest, compounded monthly. How much will he have in the account after 5 years?

Lösung

St e f an i s s a v in g u p m o n ey t o b u y a c a r . St e f an p u t s 5, 813.00 in t o an a cco u n t w hi c h e a r n s 8.82% in t eres t, co m p o u n d e d m o n t h l y . Ho w m u c h w i ll h e ha v e in t h e a cco u n t a f t er 5 ye a rs ?

Lösung

Amount : 9020.36

Schritte zur Lösung

Translate the problem into an equation:

A = 5813 (1 + \frac{0.0882}{12})^{12 \cdot 5}

5813 (1 + \frac{0.0882}{12})^{12 \cdot 5} = 9020.35789 \dots

Round to the nearest hundredth:

9020.36

Amount : 9020.36

Beliebte Beispiele

Scott and Brittany deposit 8,000.00 into a savings account which earns 9% interest compounded quarterly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?Herman puts 300.00 into an account to use for school expenses. The account earns 12% interest, compounded annually. How much will be in the account after 8 years?The area of a circle is 144pi in². What is the kreisumfang, in inches? Express your answer in terms of pi Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra 28,000 over the next 3 years. What amount must be deposited quarterly into an account that earns 5.1% interest, compounded quarterly, in ordnung to reach your goal? Round your answer to the nearest cent, if necessary.Lamar deposits 5,000 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 6 years?