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Popolare Word Problems >

Find the final amount of money in an account if 7,200 is deposited at 7% interest compounded semi annually and the money is left for 5 years.

Soluzione

F in d t h e f ina l am o u n t o f m o n ey in an a cco u n t i f 7, 200 i s d e p os i t e d a t 7% in t eres t co m p o u n d e d se mi ann u a ll y an d t h e m o n ey i s l e f t f or 5 ye a rs .

Soluzione

Amount : 10156.31

Fasi della soluzione

Translate the problem into an equation:

A = 7200 (1 + \frac{0.07}{2})^{2 \cdot 5}

7200 (1 + \frac{0.07}{2})^{2 \cdot 5} = 10156.31107 \dots

Arrotondare all' hundredth più vicino:

10156.31

Amount : 10156.31

Esempi popolari

The sum of three numbers is 91. The first number is 9 less than the second. The third number is 3 times the second. What are the numbers?Using determinants find the area of the triangle whose vertici are(0, 0), (1, 2) and (4, 3).A number increased by 7 is greater than-19.if i have 560.31 how much do i need to get to 915.74 6 years ago, Gabby won some money in the lottery and put it in a bank account that earns 10% interest compounded annually. If Gabby currently has 1, 000.00 in the bank account, how much interest has she earned?