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Популярное Word Problems >

Montraie is going to invest in an account paying an interest rate of 4.6% compounded annually. How much would Montraie need to invest, to the nearest ten dollars, for the value of the account to reach 1,610 in 15 years?

Решение

M o n t r ai e i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 4.6% co m p o u n d e d ann u a ll y . Ho w m u c h w o u l d M o n t r ai e n ee d t o in v es t, t o t h e n e a res t t e n d o ll a rs, f or t h e v a l u e o f t h e a cco u n t t o re a c h 1, 610 in 15 ye a rs ?

Решение

Principal : 820.07

Шаги решения

Translate the problem into an equation:

1610 = P (1 + \frac{0.046}{1})^{1 \cdot 15}

Решите для

P, 1610 = P (1 + \frac{0.046}{1})^{1 \cdot 15} : P = 820.07

Principal : 820.07

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