fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

Stanley opened a savings account and deposited 7,000.00 as principal. The account earns 7% interest, compounded quarterly. How much interest will he earn after 5 years?

Solution

St an l ey o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 7, 000.00 a s p r in c i p a l . T h e a cco u n t e a r n s 7% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h in t eres t w i ll h e e a r n a f t er 5 ye a rs ?

Solution

Interest : 2903.45

étapes des solutions

Translate the problem into an equation:

9903.44737 \dots = 7000 + I

Solutionner pour

I, 9903.44737 \dots = 7000 + I : I = 2903.45

Interest : 2903.45

Exemples populaires

The sum of 4 consecutive odd numbers is 56 . Find the greatest of the 4 numbers.The sum of two consecutive numbers is-77. Find the value of the smaller number.2 is equal to the sum of four times the number and 21.number increased by 28 is 104.:What is the number?:?Trent wanted to buy a new guitar. Trent deposited 300.00 into a new savings account that earns interest compounded continuously. After 1 year, he withdrew the entire balance of 327.00 and bought the guitar. What was the interest rate on the account?