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Popolare Word Problems >

Determine the future value if 750 is invested at 7.25% for 4 years compounded annually.

Soluzione

De t er min e t h e f u t u re v a l u e i f 750 i s in v es t e d a t 7.25% f or 4 ye a rs co m p o u n d e d ann u a ll y .

Soluzione

Amount : 992.32

Fasi della soluzione

Translate the problem into an equation:

A = 750 (1 + \frac{0.0725}{1})^{1 \cdot 4}

750 (1 + \frac{0.0725}{1})^{1 \cdot 4} = 992.31708 \dots

Arrotondare all' hundredth più vicino:

992.32

Amount : 992.32

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