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פּוֹפּוּלָרִי Word Problems >

Find the amount Erica owes at the end of 3 years if 5600 is loaned to her at a rate of 7 % compounded monthly.

פתרון

F in d t h e am o u n t E r i c a o w es a t t h e e n d o f 3 ye a rs i f ​5600 i s l o an e d t o h er a t a r a t e o f 7 % co m p o u n d e d m o n t h l y .

פתרון

Amount : 6904.38

צעדי פתרון

Translate the problem into an equation:

A = 5600 (1 + \frac{0.07}{12})^{12 \cdot 3}

5600 (1 + \frac{0.07}{12})^{12 \cdot 3} = 6904.38328 \dots

Round to the nearest hundredth:

6904.38

Amount : 6904.38

דוגמאות פופולריות

One number exceeds another by 6. The sum of the numbers is 42. What are the numbers?6700 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 28 years the sum of 2 consecutive numbers is 55 The perimeter of a rectangular window is 286m.If the width of the window is 66m, what is its length?((2m^2n^3)/(3p))^4 . Assume that no denominator equals zero.