500.00 as principal. The account earns 14% interest, compounded annually. What is the balance after 9 years?

解

500.00 a s p r in c i p a l . T h e a cco u n t e a r n s 14% in t eres t, co m p o u n d e d ann u a ll y . Wha t i s t h e ba l an ce a f t er 9 ye a rs ?

Amount : 1625.97

解答ステップ

Translate the problem into an equation:

A = 500 (1 + \frac{0.14}{1})^{1 \cdot 9}

500 (1 + \frac{0.14}{1})^{1 \cdot 9} = 1625.97426 \dots

最も近い

h u n d re d t h

に四捨五入:

1625.97

Amount : 1625.97