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Beliebt Word Problems >

9000 dollars is invested for 3 years with an APR of 2% and daily compounding. what is the balance in the account after 3 years

Lösung

9000 d o ll a rs i s in v es t e d f or 3 ye a rs w i t h an A PR o f 2% an d d ai l y co m p o u n d in g . w ha t i s t h e ba l an ce in t h e a cco u n t a f t er 3 ye a rs

Lösung

Amount : 9556.51

Schritte zur Lösung

Translate the problem into an equation:

A = 9000 (1 + \frac{0.02}{365})^{365 \cdot 3}

9000 (1 + \frac{0.02}{365})^{365 \cdot 3} = 9556.51321 \dots

Round to the nearest hundredth:

9556.51

Amount : 9556.51

Beliebte Beispiele

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