Ariana opened a savings account and deposited 800.00. The account earns 8% interest, compounded annually. If she wants to use the money to buy a new bicycle in 3 years, how much will she be able to spend on the bike?

Solución

Solución

Amount : 1007.77

Pasos de solución

Translate the problem into an equation:

A = 800 (1 + \frac{0.08}{1})^{1 \cdot 3}

800 (1 + \frac{0.08}{1})^{1 \cdot 3} = 1007.7696

Round to the nearest hundredth:

1007.77

Amount : 1007.77

Ejemplos populares

two cyclists leave towns 185 miles apart at the same time and travel toward each other. One cyclist travels 9 miles per hour faster than the other. If they meet in 5 hours, what is the rate of each cyclists?This year, a beauty magazine had 1,298 subscribers. That is 18% more than they had last year, before its parent company made some changes. How many subscribers did the magazine have last year?the product of the cube root of 5 and a number Martha is 3 years older than Pia. Joan is 3 times older than Martha. 3 years ago, the sum of their ages is 63. Find their ages now.Find the area of a circle with circunferencia of 11pi feet.