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شائع Word Problems >

Find the time required for an investment of 5000 dollars to grow to 8600 dollars at an interest rate of 7.5 percent per year, compounded quarterly.Your answer is t= in years

الحلّ

F in d t h e t im e re q u i re d f or an in v es t m e n t o f 5000 d o ll a rs t o g ro w t o 8600 d o ll a rs a t an in t eres t r a t e o f 7.5 p erce n t p er ye a r, co m p o u n d e d q u a r t er l y . Y o u r an s w er i s t = in ye a rs

الحلّ

Time : 7.3

خطوات الحلّ

Translate the problem into an equation:

8600 = 5000 (1 + \frac{0.075}{4})^{4 t}

8600 = 5000 (1 + \frac{0.075}{4})^{4 t}, t

حلّ لـ:

t = 7.3

Time : 7.3

أمثلة شائعة

A number is thrice another number. Their sum is 48. What are the numbers?The circumference of a circle is 12.56 centimeters. What is the circle's radius?The diameter of a circle is 8 units. What is the area of that circle?the quotient of a number and 5 decreased by 20 Debbie took out a loan from a bank at 15% interest compounded annually. After 2 years, the balance on the loan was 1,000.00. How much interest had accumulated on the loan?