Beliebt >

Aiden puts 4,131.00 into an account to use for school expenses. The account earns 2% interest, compounded monthly. How much will be in the account after 10 years?

Lösung

Aiden puts 4, 131.00 into an account to use for school expenses. The account earns 2% interest, compounded monthly. How much will be in the account after 10 years?

Lösung

Amount : 5044.77

Schritte zur Lösung

Translate the problem into an equation:

A = 4131 (1 + \frac{0.02}{12})^{12 \cdot 10}

4131 (1 + \frac{0.02}{12})^{12 \cdot 10} = 5044.77486 \dots

Round to the nearest hundredth:

5044.77

Amount : 5044.77

Beliebte Beispiele

The durchmesser of a circle is 18 feet. What is the area?the perimeter of a rectangular field is 340 m. if the length of the field is 95 m, what is its width Find four consecutive odd integers if their sum is 24.10 years ago, Lee won some money in the lottery and put it in a bank account that earns 5% interest compounded quarterly. If Lee currently has 300.00 in the bank account, how much interest has he earned?if bob had 5 apples and jeff had 3 less than bob how many apples did jeff have