Ariana opened a savings account 7 years ago. The account earns 14% interest, compounded monthly. If the current balance is 500.00, how much did she deposit initially?

Solución

Solución

Principal : 188.72

Pasos de solución

Translate the problem into an equation:

500 = P (1 + \frac{0.14}{12})^{12 \cdot 7}

Resolver para

P, 500 = P (1 + \frac{0.14}{12})^{12 \cdot 7} : P = 188.72

Principal : 188.72

Ejemplos populares

Mia is saving up money to buy a car. Mia puts 6,000.00 into an account which earns 6% interest, compounded quarterly. How much will she have in the account after 8 years?The diámetro of a circle is 12 kilometers. What is the circle's area?six more than twice a number is 16 Translate the sentence into an equation.:Twice the difference of a number and 3 equals 2.Leslie puts 3,000.00 into an account to use for school expenses. The account earns 13% interest, compounded annually. How much will be in the account after 5 years?