7000 are invested in a bank account at an interest rate of 4 percent per year.Find the amount in the bank after 9 years if interest is compounded annually.

Solución

Solución

Amount : 9963.18

Pasos de solución

Translate the problem into an equation:

A = 7000 (1 + \frac{0.04}{1})^{1 \cdot 9}

7000 (1 + \frac{0.04}{1})^{1 \cdot 9} = 9963.18268 \dots

Round to the nearest hundredth:

9963.18

Amount : 9963.18

Ejemplos populares

Four times the sum of twice a number and six is thirty two. Find the number Two more than the quotient of a number and 9 equals 5.cube has a volumen of 3375 cubic units. Calculate the length of one side of the cube. v=1wh A table is on sale for 285.00 , which is 24%less than the regular price.What is the regular price?2 diminished by 7 times a number