Malik deposits 5000 in an account that pays 3.9% interest compounded weekly. What will be the value of the account in 8 years? Round to the nearest cent.

Solución

Solución

Amount : 6829.97

Pasos de solución

Translate the problem into an equation:

A = 5000 (1 + \frac{0.039}{52})^{52 \cdot 8}

5000 (1 + \frac{0.039}{52})^{52 \cdot 8} = 6829.97471 \dots

Round to the nearest hundredth:

6829.97

Amount : 6829.97

Ejemplos populares

Aria invested 96,000 in an account paying an interest rate of 1.8% compounded monthly. 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 113,300?four times a number less 5 is the same as double the number plus 3. Find the number George is twice as old as Tamara. In five years, George will be 1.5 times as old as Tamara. Write using a system of lineal equations The sum of 6 consecutive integers is 387 .The radio of a circle is 15 cm. Find its area in terms of pipi.