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?

Soluzione

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?

Soluzione

Amount : 5527.31

Fasi della soluzione

Translate the problem into an equation:

A = 3000 (1 + \frac{0.13}{1})^{1 \cdot 5}

3000 (1 + \frac{0.13}{1})^{1 \cdot 5} = 5527.30553 \dots

Arrotondare all' hundredth più vicino:

5527.31

Amount : 5527.31

Esempi popolari

Each face of a 4-sided die is triangular with a base of 2cm and a height of 1.7cm. Find the total area of all 4 faces of the die.The area of a square is 64 . How long is the diagonal of the square?The sum of three consecutive integers is 5151. Find the value of the greatest of the three.9 less than 7 times a number x is 19 the larger of two numbers is 12 more than the smaller. their sum is 84. find te numbers