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Beliebt Word Problems >

Jason puts 2,092.00 into an account to use for school expenses. The account earns 14.46% interest, compounded quarterly. How much will be in the account after 7 years?

Lösung

J a so n p u t s 2, 092.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 14.46% 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 w i ll b e in t h e a cco u n t a f t er 7 ye a rs ?

Lösung

Amount : 5654.51

Schritte zur Lösung

Translate the problem into an equation:

A = 2092 (1 + \frac{0.1446}{4})^{4 \cdot 7}

2092 (1 + \frac{0.1446}{4})^{4 \cdot 7} = 5654.51496 \dots

Round to the nearest hundredth:

5654.51

Amount : 5654.51

Beliebte Beispiele

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