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Popolare Word Problems >

You invest 800 into your account. The account earns 1.5%, compounded weekly. How much money would be in your account after 10 years?

Soluzione

Y o u in v es t 800 in t o yo u r a cco u n t . T h e a cco u n t e a r n s 1.5%, co m p o u n d e d w ee k l y . Ho w m u c h m o n ey w o u l d b e in yo u r a cco u n t a f t er 10 ye a rs ?

Soluzione

Amount : 929.45

Fasi della soluzione

Translate the problem into an equation:

A = 800 (1 + \frac{0.015}{52})^{52 \cdot 10}

800 (1 + \frac{0.015}{52})^{52 \cdot 10} = 929.44728 \dots

Arrotondare all' hundredth più vicino:

929.45

Amount : 929.45

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