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Beliebt Word Problems >

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

Lösung

Ho w m u c h m o n ey w i ll t h ere b e in an a cco u n t a t t h e e n d o f 5 ye a rs i f 8000 d o ll a rs i s d e p os i t e d a t 4% in t eres t co m p o u n d e d se mi - ann u a ll y

Lösung

Amount : 9751.96

Schritte zur Lösung

Translate the problem into an equation:

A = 8000 (1 + \frac{0.04}{2})^{2 \cdot 5}

8000 (1 + \frac{0.04}{2})^{2 \cdot 5} = 9751.95535 \dots

Round to the nearest hundredth:

9751.96

Amount : 9751.96

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