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Populaire Word Problems >

What would be the compound interest obtained on an amount of 4800 at a rate of 5% per annum for 3 years?

Solution

Wha t w o u l d b e t h e co m p o u n d in t eres t o b t ain e d o n an am o u n t o f 4800 a t a r a t e o f 5% p er ann u m f or 3 ye a rs ?

Solution

Principal : 4146.42

étapes des solutions

Translate the problem into an equation:

4800 = P (1 + \frac{0.05}{1})^{1 \cdot 3}

Solutionner pour

P, 4800 = P (1 + \frac{0.05}{1})^{1 \cdot 3} : P = 4146.42

Principal : 4146.42

Exemples populaires

2 more than the product of a number and 9 is 11 if Lauren's age is half of Joe's age and lauren is 4. How old is Joe eight less than three times a number is the sam as five times the number find the number Brenda invests 4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?Noah invested 8,600 in an account paying an interest rate of 2.4% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 10,900?