de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

John places 5,000 into a mutual fund that is paying 8% annual interest. The interest is being compounded quarterly. How much money will be in the account in 5 years?

Lösung

J o hn pl a ces 5, 000 in t o a m u t u a l f u n d t ha t i s p a y in g 8% ann u a l in t eres t . T h e in t eres t i s b e in g co m p o u n d e d q u a r t er l y . Ho w m u c h m o n ey w i ll b e in t h e a cco u n t in 5 ye a rs ?

Lösung

Amount : 7429.74

Schritte zur Lösung

Translate the problem into an equation:

A = 5000 (1 + \frac{0.08}{4})^{4 \cdot 5}

5000 (1 + \frac{0.08}{4})^{4 \cdot 5} = 7429.73697 \dots

Round to the nearest hundredth:

7429.74

Amount : 7429.74

Beliebte Beispiele

the sum of a number and seventeen is no less than 26 The original price of a bottle of perfume is 40.30. How much will Nathan pay if he buys it for 90% off the original price?Find how long it will take to have a balance of 900 if 500 is invested at 7.5% annual interest compounded continuously.Emmanuel puts 1,081 into an investment yielding 1.946% annual simple interest; he left the money in for 71 years. How much interest does Emmanuel get at the end of those 71 years?A regular hexagon is inscribed in a kreis whose radius is 10 cm. Find the area of the hexagon.