it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Keith opened a savings account and deposited 800.00 as principal. The account earns 4% interest, compounded quarterly. What is the balance after 2 years?

Soluzione

Ke i t h o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 800.00 a s p r in c i p a l . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d q u a r t er l y . Wha t i s t h e ba l an ce a f t er 2 ye a rs ?

Soluzione

Amount : 866.29

Fasi della soluzione

Translate the problem into an equation:

A = 800 (1 + \frac{0.04}{4})^{4 \cdot 2}

800 (1 + \frac{0.04}{4})^{4 \cdot 2} = 866.28536 \dots

Arrotondare all' hundredth più vicino:

866.29

Amount : 866.29

Esempi popolari

Pamela opened a savings account and deposited 800.00. The account earns 14% interest, compounded annually. If she wants to use the money to buy a new bicycle in 2 years, how much will she be able to spend on the bike?Camilla opened a savings account and deposited 100.00 as principal. The account earns 9% interest, compounded quarterly. What is the balance after 4 years?The radius of a cerchio is 5 inches. What is the area?You deposit 3000 in an account earning 3% interest compounded continuously. How much will you have in the account in 10 years?Lauren's age is half of Joe's age. Emma is four years older than Joe. The sum of Lauren, Emma, and Joe's age is 534. How old is Joe?