es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

You deposit 150 in an investment account that earns 4.8% annual interest compounded monthly.What is the balance of the account after 8 years?

Solución

Y o u d e p os i t 150 in an in v es t m e n t a cco u n t t ha t e a r n s 4.8% ann u a l in t eres t co m p o u n d e d m o n t h l y . Wha t i s t h e ba l an ce o f t h e a cco u n t a f t er 8 ye a rs ?

Solución

Amount : 220.05

Pasos de solución

Translate the problem into an equation:

A = 150 (1 + \frac{0.048}{12})^{12 \cdot 8}

150 (1 + \frac{0.048}{12})^{12 \cdot 8} = 220.05320 \dots

Redondear al más cercano hundredth:

220.05

Amount : 220.05

Ejemplos populares

The circunferencia of a circle is 23pi ft. What is the area, in square feet? Express your answer in terms of pipi.The product of tow consecutive odd integers is 255. Find the numbers.Philip tosses a coin 4 times. What is the probability that the coin will land on heads all four times?A number x increased by 9 is greater than-16 Brittany took out a loan from a bank at 14% interest compounded monthly. After 2 years, the balance on the loan was 1,000.00. How much interest had accumulated on the loan?