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1600 dollars is placed in an account with an annual interest rate of 5.25%. How much will be in the account after 25 years, to the nearest cent?

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解答

1600dollarsisplacedinanaccountwithanannualinterestrateof5.25%.Howmuchwillbeintheaccountafter25years,tothenearestcent?

解答

Amount:3700
求解步骤
Translate the problem into an equation:A=1600(1+0.0525⋅25)
1600(1+0.0525⋅25)=3700
Amount:3700

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