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Populaire Word Problems >

Find the principal needed now to get the given amount; that is, find the present value to get 600 after 4 years at 3% compounded quarterly

Solution

F in d t h e p r in c i p a l n ee d e d n o w t o g e t t h e g i v e n ​ am o u n t; t ha t ​ i s, f in d t h e p rese n t v a l u e t o g e t 600 a f t er 4 ye a rs a t 3% co m p o u n d e d q u a r t er l y

Solution

Principal : 532.39

étapes des solutions

Translate the problem into an equation:

600 = P (1 + \frac{0.03}{4})^{4 \cdot 4}

Solutionner pour

P, 600 = P (1 + \frac{0.03}{4})^{4 \cdot 4} : P = 532.39

Principal : 532.39

Exemples populaires

If the perimeter of a square is 16 units. Find the length of the side of the square.twice the sum of a number x and 18 An initial investment of 5000 grows continuously with an annual interest rate of 3.00%. What will be the value of the account in 4 years.the sum of 2 times a number and-7, added to 5 times the number the quotient of a number cubed and five