Suppose Greg places 3000 in an account that pays 18% interest compounded each year.Assume that no withdrawals are made from the account. find the amount after 1 year

Solución

Solución

Amount : 3540

Pasos de solución

Translate the problem into an equation:

A = 3000 (1 + \frac{0.18}{1})^{1 \cdot 1}

3000 (1 + \frac{0.18}{1})^{1 \cdot 1} = 3540

Amount : 3540

Ejemplos populares

The sum of 13 and twice a number is-19:Fin the number."The difference between a number and 7 is greater than-23."When a number is added to both the numerator and denominator of 1/4 the result is 2/3 The área of a rectangular pool is 3162m^2.If the length of the pool is 62m , what is its width?The sum of two numbers is 20 , and the difference between their squares is 40:Find the two numbers.