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Популярное Word Problems >

Find the amount of money in an account after 4 years if 1800 is deposited at 5% annual interest compounded quarterly

Решение

F in d t h e am o u n t o f m o n ey in an a cco u n t a f t er 4 ye a rs i f 1800 i s d e p os i t e d a t 5% ann u a l in t eres t co m p o u n d e d q u a r t er l y

Решение

Amount : 2195.8

Шаги решения

Translate the problem into an equation:

A = 1800 (1 + \frac{0.05}{4})^{4 \cdot 4}

1800 (1 + \frac{0.05}{4})^{4 \cdot 4} = 2195.80118 \dots

Округлите до ближайшего hundredth:

2195.8

Amount : 2195.8

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