he

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

פּוֹפּוּלָרִי Word Problems >

Jasmine invests 2,658 in a retirement account with a fixed annual interest rate of 9% compounded quarterly. What will the account balance be after 15 years?

פתרון

J a s min e in v es t s 2, 658 in a re t i re m e n t a cco u n t w i t h a f i x e d ann u a l in t eres t r a t e o f 9% co m p o u n d e d q u a r t er l y . Wha t w i ll t h e a cco u n t ba l an ce b e a f t er 15 ye a rs ?

פתרון

Amount : 10100.76

צעדי פתרון

Translate the problem into an equation:

A = 2658 (1 + \frac{0.09}{4})^{4 \cdot 15}

2658 (1 + \frac{0.09}{4})^{4 \cdot 15} = 10100.75826 \dots

Round to the nearest hundredth:

10100.76

Amount : 10100.76

דוגמאות פופולריות

Suppose the diameter of a circle is 6 units. What is its circumference?Use 3.14 for pi and enter your answer as a decimal.Andres is going to invest in an account paying an interest rate of 2.9% compounded continuously. How much would Andres need to invest, to the nearest dollar, for the value of the account to reach 370 in 11 years?84 is 2% of what number 6 plus a number is 11. what is the number A cyclist rides a bicycle at a constant speed. If the cyclist covers a distance of 90 kilometers in 6 hours, what is the speed of the cyclist in kilometers per hour?