Melissa puts 400.00 into an account to use for school expenses. The account earns 11% interest, compounded annually. How much will be in the account after 7 years?

解答

解答

Amount : 830.46

求解步骤

Translate the problem into an equation:

A = 400 (1 + \frac{0.11}{1})^{1 \cdot 7}

400 (1 + \frac{0.11}{1})^{1 \cdot 7} = 830.46406 \dots

Round to the nearest hundredth:

830.46

Amount : 830.46

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