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Beliebt Word Problems >

you deposit 600 in an account earning 4% interest compounded annually. How much will you have in the account in 10 years?

Lösung

yo u d e p os i t 600 in an a cco u n t e a r nin g 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 yo u ha v e in t h e a cco u n t in 10 ye a rs ?

Lösung

Amount : 888.15

Schritte zur Lösung

Translate the problem into an equation:

A = 600 (1 + \frac{0.04}{1})^{1 \cdot 10}

600 (1 + \frac{0.04}{1})^{1 \cdot 10} = 888.14657 \dots

Round to the nearest hundredth:

888.15

Amount : 888.15

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