Popular >

Jenna opened a savings account and deposited 710.00. The account earns 13.06% 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 : 1026.09

Pasos de solución

Translate the problem into an equation:

A = 710 (1 + \frac{0.1306}{1})^{1 \cdot 3}

710 (1 + \frac{0.1306}{1})^{1 \cdot 3} = 1026.08961 \dots

Round to the nearest hundredth:

1026.09

Amount : 1026.09

Ejemplos populares

Harper invested 3,200 in an account paying an interest rate of 7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 6 years?three more than the quotient of a number and 2 is equal to 9 One number exceeds another by 37. The sum of the numbers is 61. What are the numbers the sum of two positive numbers is 7 times their difference. the difference of the squares of these numbers is twice the sum of the numbers. find these numbers Dianne is 23 years older than her daughter Amy. In 6 years, Dianne will be twice as old as AMy. How old is amy?