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شائع Word Problems >

Find the amount in the account for the given principal, interest rate, time, and compounding period.Pequals1,500, requals2.5%, tequals3 years; compounded daily

الحلّ

F in d t h e am o u n t in t h e a cco u n t f or t h e g i v e n ​ p r in c i p a l, in t eres t ​ r a t e, t im e, an d co m p o u n d in g p er i o d . P e q u a l s ​1, 500​, re q u a l s 2.5​%, t e q u a l s 3 ​ ye a rs; co m p o u n d e d d ai l y

الحلّ

Amount : 1616.82

خطوات الحلّ

Translate the problem into an equation:

A = 1500 (1 + \frac{0.025}{365})^{365 \cdot 3}

1500 (1 + \frac{0.025}{365})^{365 \cdot 3} = 1616.82207 \dots

Round to the nearest hundredth:

1616.82

Amount : 1616.82

أمثلة شائعة

Translate to an algebraic expression: 11 increased by a number,You type 168 words in 3 1/2 minutes. How many words do you type per minute?Jeffrey and Tisha deposit 8,142.00 into a savings account which earns 5% interest compounded monthly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?The sum of two consecutive odd integers is −40 Joel invests 25,000 with an interest rate of 3.5% compounded quarterly. After 9 years, what is the total amount Joel's investment?