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인기 있는 Word Problems >

If 5,000 is invested at 8% annual interest compounded monthly, what is the account balance after 5 years, assuming no additional deposits or withdrawals are made?

해법

I f 5, 000 i s in v es t e d a t 8% ann u a l in t eres t co m p o u n d e d m o n t h l y, w ha t i s t h e a cco u n t ba l an ce a f t er 5 ye a rs, a ss u min g n o a dd i t i o na l d e p os i t s or w i t h d r a w a l s a re ma d e ?

해법

Amount : 7449.23

솔루션 단계

Translate the problem into an equation:

A = 5000 (1 + \frac{0.08}{12})^{12 \cdot 5}

5000 (1 + \frac{0.08}{12})^{12 \cdot 5} = 7449.22854 \dots

가장 가까운 hundredth 으로 반올림:

7449.23

Amount : 7449.23

인기 있는 예

Two train leave towns 1340 kilometers apart at the same time and travel toward each other. One train travels 14 kmh slower than the other. If they meet in 5 hours. What is the rate of each train?Four consecutive integers add up to 330. What are the integers?four subtracted from three times a number 4 2/7 of what number is 20 1/2 Cody invests 1,067 in a savings account with a fixed annual interest rate of 3% compounded 12 times per year.What will the account balance be after 7 years