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פּוֹפּוּלָרִי Word Problems >

Harper opened a savings account and deposited 4,000.00 as principal. The account earns 13% interest, compounded quarterly. What is the balance after 10 years?

פתרון

H a r p er o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 4, 000.00 a s p r in c i p a l . T h e a cco u n t e a r n s 13% in t eres t, co m p o u n d e d q u a r t er l y . Wha t i s t h e ba l an ce a f t er 10 ye a rs ?

פתרון

Amount : 14376.81

צעדי פתרון

Translate the problem into an equation:

A = 4000 (1 + \frac{0.13}{4})^{4 \cdot 10}

4000 (1 + \frac{0.13}{4})^{4 \cdot 10} = 14376.80573 \dots

Round to the nearest hundredth:

14376.81

Amount : 14376.81

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