ar

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

شائع Word Problems >

Suppose you invest 3,500 in a savings account that earns 7% interest, compounded quarterly. How much money would you have after 6 years? Round your answer to the nearest penny

الحلّ

S u pp ose yo u in v es t 3, 500 in a s a v in g s a cco u n t t ha 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 m o n ey w o u l d yo u ha v e a f t er 6 ye a rs ? R o u n d yo u r an s w er t o t h e n e a res t p e nn y

الحلّ

Amount : 5307.55

خطوات الحلّ

Translate the problem into an equation:

A = 3500 (1 + \frac{0.07}{4})^{4 \cdot 6}

3500 (1 + \frac{0.07}{4})^{4 \cdot 6} = 5307.54975 \dots

Round to the nearest hundredth:

5307.55

Amount : 5307.55

أمثلة شائعة

one half the sum of a number and three is the same as negative six After sailing 18 mi, a sailor changed direction and increased the boat's speed by 4 mph. An additional 13 mi was sailed at the increased speed. The total sailing time was 3 h. Find the rate of the boat for the first 18 mi.The sum of a number and 5 is 1 If the sum of the smallest and largest of three consecutive even numbers is 28, what is the value of the second largest number in the series?You deposit 2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 5 years?