de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

Eugene’s parents put 2,500 in a bank account for college tuition at an interest rate of 8.75% compounded semiannually. What will be the balance after 18 years?

Lösung

E ug e n e ’ s p a re n t s p u t 2, 500 in a bank a cco u n t f or co ll e g e t u i t i o n a t an in t eres t r a t e o f 8.75% co m p o u n d e d se miann u a ll y . Wha t w i ll b e t h e ba l an ce a f t er 18 ye a rs ?

Lösung

Amount : 11679.21

Schritte zur Lösung

Translate the problem into an equation:

A = 2500 (1 + \frac{0.0875}{2})^{2 \cdot 18}

2500 (1 + \frac{0.0875}{2})^{2 \cdot 18} = 11679.21341 \dots

Round to the nearest hundredth:

11679.21

Amount : 11679.21

Beliebte Beispiele

Edgar opened a savings account and deposited 200.00 as principal. The account earns 3% interest, compounded annually. How much interest will he earn after 6 years?Emir puts 8,000.00 into an account to use for school expenses. The account earns 8% interest, compounded monthly. How much will be in the account after 9 years?The selling price of a refrigerator, is 704.40. If the markup is 20 % of the dealer's cost, what is the dealer's cost of the refrigerator?five times a number increased by ten Rosanne is saving up money to buy a car. Rosanne puts 10,000.00 into an account which earns 2% interest, compounded annually. How much will she have in the account after 3 years?