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Populaire Word Problems >

Luca puts 3,000.00 into an account to use for school expenses. The account earns 4% interest, compounded annually. How much will be in the account after 4 years?

Solution

Lu c a p u t s 3, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 4 ye a rs ?

Solution

Amount : 3509.58

étapes des solutions

Translate the problem into an equation:

A = 3000 (1 + \frac{0.04}{1})^{1 \cdot 4}

3000 (1 + \frac{0.04}{1})^{1 \cdot 4} = 3509.57568

Arrondir à hundredth la plus proche:

3509.58

Amount : 3509.58

Exemples populaires

six less than the product of 7 and a number equals 2.Find odd consecutive odd numbers whose sum is 144 48 is 12% of what number The sum of two numbers is 38. The larger number is seven less than twice the smaller number. Find the numbers.The différence of 2 and a number x