fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

If 500 is borrowed with an interest of 21.0% compounded monthly, what is the total amount of money needed to pay it back in 1 year?

Solution

I f 500 i s b orro w e d w i t h an in t eres t o f 21.0% co m p o u n d e d m o n t h l y, w ha t i s t h e t o t a l am o u n t o f m o n ey n ee d e d t o p a y i t ba c k in 1 ye a r ?

Solution

Amount : 615.72

étapes des solutions

Translate the problem into an equation:

A = 500 (1 + \frac{0.21}{12})^{12 \cdot 1}

500 (1 + \frac{0.21}{12})^{12 \cdot 1} = 615.71965 \dots

Arrondir à hundredth la plus proche:

615.72

Amount : 615.72

Exemples populaires

A fair coin is flipped seven times. What is the probability of the coin landing tails up at most five times?Benjamin's age is 6 years less than twice Lucas's age. If Benjamin is 12 years old, how old is Lucas?Find the aire of two triangles put together with a base of 4 and height of 2 The circonférence of a circle is 100.48 feet. What is the circle's radius?fifty less than six times a number is equal to the number.Find the number.