Edward deposited 2,000.00 into a new savings account that earns 15% interest compounded monthly. How long will it take for the balance to grow to 6,961.00?Round your answer to the nearest month.

解答

Edward deposited 2, 000.00 into a new savings account that earns 15% interest compounded monthly. How long will it take for the balance to grow to 6, 961.00?Round your answer to the nearest month.

解答

Time : 8.37

求解步骤

Translate the problem into an equation:

6961 = 2000 (1 + \frac{0.15}{12})^{12 t}

求解

t, 6961 = 2000 (1 + \frac{0.15}{12})^{12 t} : t = 8.37

Time : 8.37

流行的例子

the sum of two numbers is 6 and their 差集 is 2 Lungelo has a son, Matthew. Here are some facts about how old Lungelo and Matthew are:Lungelo is 5 times as old as Matthew right now.10 years from now, Lungelo will be 3 times as old as Matthew.How old are Lungelo and Matthew now?Evan bought a 121.00 speaker. After paying 4% sales tax, what is the total amount Evan paid ?Four less than the product of 3 and a number equals 2.Connor invested 59,000 in an account paying an interest rate of 2.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 12 years?