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?

Solución

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?

Solución

Amount : 10612.08

Pasos de solución

Translate the problem into an equation:

A = 10000 (1 + \frac{0.02}{1})^{1 \cdot 3}

10000 (1 + \frac{0.02}{1})^{1 \cdot 3} = 10612.08

Amount : 10612.08

Ejemplos populares

how long does it take a principal of 25 000 pesos at a simple interest rate of 5 percent to become 30 000 pesos A principal of 6400 is deposited at 5% for 9 years. What will be the compound amount at the compound interest if the interest is compounded? a. Annually b. Semi-annually c. Quarterly d. Monthly How much simple interest is earned on 1,531 deposited in a bank for 6 years at 3% annual interest rate? You would earn in interest. If necessary, round to the nearest cent.Four consecutive even integers sum to-4. What are the integers?Kevin is 2 times as old as Gabriela. 12 years ago, Kevin was 6 times as old as Gabriela.How old is Kevin now?