de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

Isaac is going to invest in an account paying an interest rate of 6.3% compounded monthly. How much would Isaac need to invest, to the nearest ten dollars, for the value of the account to reach 57,000 in 7 years?

Lösung

I s aa c i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 6.3% co m p o u n d e d m o n t h l y . Ho w m u c h w o u l d I s aa c n ee d t o in v es t, t o t h e n e a res t t e n d o ll a rs, f or t h e v a l u e o f t h e a cco u n t t o re a c h 57, 000 in 7 ye a rs ?

Lösung

Principal : 36715.71

Schritte zur Lösung

Translate the problem into an equation:

57000 = P (1 + \frac{0.063}{12})^{12 \cdot 7}

Löse nach

P, 57000 = P (1 + \frac{0.063}{12})^{12 \cdot 7} : P = 36715.71

Principal : 36715.71

Beliebte Beispiele

Problem 11 Credit card fraud happens at a certain store at a rate of about 1 every month. What is the probability that in a certain three month period, there are at least 2 credit card fraud incidents?7 more than twice a number x is less than 12 The sum of two numbers is 46 and the differenz between the larger number and twice the smaller number is 10. Find the two numbers. Enter the smaller number first.Levi invested 160 in an account paying an interest rate of 3% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 8 years?Chase invested 39,000 in an account paying an interest rate of 3.2% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 66,100?