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Beliebt Word Problems >

If you invest 10,000 at an interest rate of 5.2%, determine the total amount after 5 years compounded annually.

Lösung

I f yo u in v es t 10, 000 a t an in t eres t r a t e o f 5.2%, d e t er min e t h e t o t a l am o u n t a f t er 5 ye a rs co m p o u n d e d ann u a ll y .

Lösung

Amount : 12884.83

Schritte zur Lösung

Translate the problem into an equation:

A = 10000 (1 + \frac{0.052}{1})^{1 \cdot 5}

10000 (1 + \frac{0.052}{1})^{1 \cdot 5} = 12884.83018 \dots

Round to the nearest hundredth:

12884.83

Amount : 12884.83

Beliebte Beispiele

the sum of two numbers is 34. the second number is 6 less than the first number One-sixth equals the quotient of a number and 30 Three more than the product of a number and 5 equals 2 The diameter of a circle is 18 cm. Find the kreisumfang ben is three times as old as john. the sum of their ages is 40. How old are Ben and John?