Jeanette is saving up money to buy a car. Jeanette puts 5,444.00 into an account which earns 10% interest, compounded quarterly. How much will she have in the account after 3 years?

الحلّ

Jeanette is saving up money to buy a car. Jeanette puts 5, 444.00 into an account which earns 10% interest, compounded quarterly. How much will she have in the account after 3 years?

الحلّ

Amount : 7321.57

خطوات الحلّ

Translate the problem into an equation:

A = 5444 (1 + \frac{0.1}{4})^{4 \cdot 3}

5444 (1 + \frac{0.1}{4})^{4 \cdot 3} = 7321.57475 \dots

Round to the nearest hundredth:

7321.57

Amount : 7321.57

أمثلة شائعة

You are dealt one card from a 52-card deck. Find the probability that you are dealt a nine or a red card.Five times the sum of a number and 7 is 30. Find the numbers How much would you need to deposit in an account now in order to have 4000 in the account in 15 years? Assume the account earns 4% interest compounded monthly.7000 are invested in a bank account at an interest rate of 4 percent per year.Find the amount in the bank after 9 years if interest is compounded monthly Natalie puts 400.00 into an account to use for school expenses. The account earns 4% interest, compounded quarterly. How much will be in the account after 8 years?Round your answer to the nearest cent.