de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

Find the amount of money owed at the end of 3 years if 2700 is borrowed at 1.5% per year compounded monthly and no payments are made on the loan.

Lösung

F in d t h e am o u n t o f m o n ey o w e d a t t h e e n d o f 3 ye a rs i f 2700 i s b orro w e d a t 1.5% p er ye a r co m p o u n d e d m o n t h l y an d n o p a y m e n t s a re ma d e o n t h e l o an .

Lösung

Amount : 2824.2

Schritte zur Lösung

Translate the problem into an equation:

A = 2700 (1 + \frac{0.015}{12})^{12 \cdot 3}

2700 (1 + \frac{0.015}{12})^{12 \cdot 3} = 2824.19585 \dots

Round to the nearest hundredth:

2824.2

Amount : 2824.2

Beliebte Beispiele

Henry opened a savings account and deposited 558.00. The account earns 7% interest, compounded quarterly. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?\$6148 rate 6% for 9 years annually what is the simple interest?you put \$939 into an investment at 8% for six years. what will the balance be at the end of six years?Two fair dice are rolled. What is the probability that both show up the same number of point?The product of 2 numbers is 4.2. What are the 2 numbers if their sum is 4.4.