Sylvia decides to put a recent 85,600 inheritance away into an investment account gaining 9.5% interest compounded monthly. How much will be in the account at the end of 10 years? Round to the nearest cent. Explain how you got your answer

解答

Sylvia decides to put a recent 85, 600 inheritance away into an investment account gaining 9.5% interest compounded monthly. How much will be in the account at the end of 10 years? Round to the nearest cent. Explain how you got your answer

解答

Amount : 220510.34

求解步骤

Translate the problem into an equation:

A = 85600 (1 + \frac{0.095}{12})^{12 \cdot 10}

85600 (1 + \frac{0.095}{12})^{12 \cdot 10} = 220510.34194 \dots

Round to the nearest hundredth:

220510.34

Amount : 220510.34

流行的例子

ten is no more than four less than a number the sum of 2 numbers is 30 and their 差集 is 12. find the two numbers The sum of 5 consecutive even numbers is 145.three times the sum of a number and 17 is at most 22 The sum of two numbers is 125. Find the two numbers if twice the smaller number is five less than the larger.