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Popolare Word Problems >

Luna opened a savings account and deposited 100.00 as principal. The account earns 6% interest, compounded quarterly. What is the balance after 9 years?

Soluzione

Lu na o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 100.00 a s p r in c i p a l . T h e a cco u n t e a r n s 6% in t eres t, co m p o u n d e d q u a r t er l y . Wha t i s t h e ba l an ce a f t er 9 ye a rs ?

Soluzione

Amount : 170.91

Fasi della soluzione

Translate the problem into an equation:

A = 100 (1 + \frac{0.06}{4})^{4 \cdot 9}

100 (1 + \frac{0.06}{4})^{4 \cdot 9} = 170.91395 \dots

Arrotondare all' hundredth più vicino:

170.91

Amount : 170.91

Esempi popolari

The circonferenza of a circle is 25pi cm. What is the area, in square centimeters? Express your answer in terms of pi Find two consecutive odd numbers such that the sum of the larger number and twice the smaller number is 27 less than four times the smaller number.A principal of 6400 is deposited at 5% for 9 years. What will be the compound amount at the compound interest if the interest is compounded? b. Semi-annually The sum of the square of a positive number and four times the number is 60. What is the number?5 times the sum of a number and-2 equals 30