Krysta is saving up money to buy a car. Krysta puts 10,000.00 into an account which earns 6% interest, compounded quarterly. How much will she have in the account after 10 years?

Solución

Krysta is saving up money to buy a car. Krysta puts 10, 000.00 into an account which earns 6% interest, compounded quarterly. How much will she have in the account after 10 years?

Solución

Amount : 18140.18

Pasos de solución

Translate the problem into an equation:

A = 10000 (1 + \frac{0.06}{4})^{4 \cdot 10}

10000 (1 + \frac{0.06}{4})^{4 \cdot 10} = 18140.18408 \dots

Round to the nearest hundredth:

18140.18

Amount : 18140.18

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