Martha invests 7800 in a new savings account which earns 5.1% annual interest, compounded semi-annually. What will be the value of her investment after 5 years? Round to the nearest cent.

Solución

Solución

Amount : 10033.47

Pasos de solución

Translate the problem into an equation:

A = 7800 (1 + \frac{0.051}{2})^{2 \cdot 5}

7800 (1 + \frac{0.051}{2})^{2 \cdot 5} = 10033.47215 \dots

Round to the nearest hundredth:

10033.47

Amount : 10033.47

Ejemplos populares

at a local grocery store, a bottle of water costs 1.25 . At a baseball stadium, the cost of a bottle of the same brand water increases by 80%. What is the cost of a bottle of water at the stadium in dollars and cents?Deion opened a savings account 2 years ago. The account earns 6% interest, compounded annually. If the current balance is 700.00, how much did he deposit initially?3 times the sum of a number and 3 3 times the sum of a number and 8 The sum of 3 consecutive odd numbers is 51 What is the second number in this sequence?