Jenna put 4,000 in a retirement account that offers 7% interest compounded annually. She makes no additional deposits or withdrawals. How much interest will she have earned at the end of 5 years?

Solución

Jenna put 4, 000 in a retirement account that offers 7% interest compounded annually. She makes no additional deposits or withdrawals. How much interest will she have earned at the end of 5 years?

Solución

Interest : 1610.21

Pasos de solución

Translate the problem into an equation:

5610.20692 \dots = 4000 + I

Resolver para

I, 5610.20692 \dots = 4000 + I : I = 1610.21

Interest : 1610.21

Ejemplos populares

Write the statement the sum of a number and 17.3 is at least-2.8 as an inequality.Negative nine equals a number plus five.real number 1/9 Ben had 1 apple. He went to the store and got 5 times as many. How many does he have now The circunferencia of a circle is 17pi cm. What is the area, in square centimeters?