Kayla is saving up money to buy a car. Kayla puts 8,730.00 into an account which earns 14% interest, compounded annually. How much will she have in the account after 9 years?

Solución

Kayla is saving up money to buy a car. Kayla puts 8, 730.00 into an account which earns 14% interest, compounded annually. How much will she have in the account after 9 years?

Solución

Amount : 28389.51

Pasos de solución

Translate the problem into an equation:

A = 8730 (1 + \frac{0.14}{1})^{1 \cdot 9}

8730 (1 + \frac{0.14}{1})^{1 \cdot 9} = 28389.51058 \dots

Round to the nearest hundredth:

28389.51

Amount : 28389.51

Ejemplos populares

5/4 on a number recta You deposit 200 in an account. The account earns 10 simple interest in 4 years. What is the annual interest rate?%Jeniffer is 26 years old. The sum of the ages of Jeniffer and Tiffany is 54. How old is Tiffany?Four consecutive even integers sum to-20. What is the greatest of the 4 integers?Vincent puts 300.00 into an account to use for school expenses. The account earns 5% interest, compounded quarterly. How much will be in the account after 5 years?