de

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Beliebt Word Problems >

Connor puts 1,000.00 into an account to use for school expenses. The account earns 5% interest, compounded monthly. How much will be in the account after 8 years?

Lösung

C o nn or p u t s 1, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 5% in t eres t, co m p o u n d e d m o n t h l y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 8 ye a rs ?

Lösung

Amount : 1490.59

Schritte zur Lösung

Translate the problem into an equation:

A = 1000 (1 + \frac{0.05}{12})^{12 \cdot 8}

1000 (1 + \frac{0.05}{12})^{12 \cdot 8} = 1490.58546 \dots

Round to the nearest hundredth:

1490.59

Amount : 1490.59

Beliebte Beispiele

The sum of two numbers is 9 and their differenz is 7:What are the two numbers Dalton opened a savings account and deposited 800.00 as principal. The account earns 15% interest, compounded annually. What is the balance after 6 years?if sally has 2 apples and she takes away 3, how many does she have?Matt and Sarah deposit 800.00 into a savings account which earns 12% interest compounded monthly. They want to use the money in the account to go on a trip in 2 years. How much will they be able to spend?Find two consecutive whole numbers that sqrt(119) lies between.