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شائع Word Problems >

Calculate the accumulated value of a 7-year continuous annuity of 1000 per year.The annual effective interest rate is 10%.

الحلّ

C a l c u l a t e t h e a cc u m u l a t e d v a l u e o f a 7 - ye a r co n t in u o u s ann u i t y o f 1000 p er ye a r . T h e ann u a l e ff ec t i v e in t eres t r a t e i s 10%.

الحلّ

Amount : 1700

خطوات الحلّ

Translate the problem into an equation:

A = 1000 (1 + 0.1 \cdot 7)

1000 (1 + 0.1 \cdot 7) = 1700

Amount : 1700

أمثلة شائعة

Sam deposited 3500 into the bank. The account earns 2% interest compounded annually. What is his balance at the end of 8 years?How much money will there be in an account at the end of 5 years if 8000 dollars is deposited at 4% interest compounded semi-annually A principal of 3300 is invested at 7.25% interest, compounded annually. How much will the investment be worth after 7 years?Lola has 70 in an account that earns 10% interest compounded annually.To the nearest cent, how much interest will she earn in 1 year?What is the interest of 0.93 dollars if invested at 2.25 percent compounded annually in 1000 years?