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Popular Word Problems >

200.00 as principal. The account earns 7% interest, compounded annually. What is the balance after 4 years?

Solución

200.00 a s p r in c i p a l . T h e a cco u n t e a r n s 7% 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 4 ye a rs ?

Solución

Amount : 262.16

Pasos de solución

Translate the problem into an equation:

A = 200 (1 + \frac{0.07}{1})^{1 \cdot 4}

200 (1 + \frac{0.07}{1})^{1 \cdot 4} = 262.159202

Redondear al más cercano hundredth:

262.16

Amount : 262.16

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