Chad is saving up money to buy a car. Chad puts 8,519.00 into an account which earns 14% interest, compounded annually. How much will he have in the account after 10 years?

Solución

Chad is saving up money to buy a car. Chad puts 8, 519.00 into an account which earns 14% interest, compounded annually. How much will he have in the account after 10 years?

Solución

Amount : 31581.82

Pasos de solución

Translate the problem into an equation:

A = 8519 (1 + \frac{0.14}{1})^{1 \cdot 10}

8519 (1 + \frac{0.14}{1})^{1 \cdot 10} = 31581.81837 \dots

Round to the nearest hundredth:

31581.82

Amount : 31581.82

Ejemplos populares

72 is a natural number when six is subtracted from five times a number, the result is nine the sum of three consecutive odd integers is 369. find the three integers The square of a number is 3 less than four times the number. Which values could be the number?if you roll a dice twice what is the probability of rolling a 1 the first time and 2 the second time