ru

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Популярное Word Problems >

Peter opened a savings account 8 years ago. The account earns 1% interest, compounded monthly. If the current balance is 500.00, how much did he deposit initially?

Решение

P e t er o p e n e d a s a v in g s a cco u n t 8 ye a rs a g o . T h e a cco u n t e a r n s 1% in t eres t, co m p o u n d e d m o n t h l y . I f t h e c u rre n t ba l an ce i s 500.00, h o w m u c h d i d h e d e p os i t ini t ia ll y ?

Решение

Principal : 461.57

Шаги решения

Translate the problem into an equation:

500 = P (1 + \frac{0.01}{12})^{12 \cdot 8}

Решите для

P, 500 = P (1 + \frac{0.01}{12})^{12 \cdot 8} : P = 461.57

Principal : 461.57

Популярные примеры

The radius of a circle is 19 m. Find its окружность in terms of pipi.brian has 4 apples, his train is 7 minutes late, calculate the mass of the sun The sum of 3 times a number and 5 equals 6.56 times the разность between a number and 10 is equal to the number plus 23.Emily puts 1,000.00 into an account to use for school expenses. The account earns 15% interest, compounded monthly. How much will be in the account after 8 years?