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Popular Word Problems >

Calculate the future value, to the nearest cent:Present value of S1340 invested for 6 years at 6% pa compounded WEEKLY

Solução

C a l c u l a t e t h e f u t u re v a l u e, t o t h e n e a res t ce n t : P rese n t v a l u e o f S 1340 in v es t e d f or 6 ye a rs a t 6% p a co m p o u n d e d W EE K L Y

Solução

Amount : 1920.26

Passos da solução

Translate the problem into an equation:

A = 1340 (1 + \frac{0.06}{52})^{52 \cdot 6}

1340 (1 + \frac{0.06}{52})^{52 \cdot 6} = 1920.26285 \dots

Round to the nearest hundredth:

1920.26

Amount : 1920.26

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