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شائع Word Problems >

Rob opened a savings account 3 years ago. The account earns 14% interest, compounded quarterly. If the current balance is 300.00, how much did he deposit initially?

الحلّ

R o b o p e n e d a s a v in g s a cco u n t 3 ye a rs a g o . 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 q u a r t er l y . I f t h e c u rre n t ba l an ce i s 300.00, h o w m u c h d i d h e d e p os i t ini t ia ll y ?

الحلّ

Principal : 198.53

خطوات الحلّ

Translate the problem into an equation:

300 = P (1 + \frac{0.14}{4})^{4 \cdot 3}

300 = P (1 + \frac{0.14}{4})^{4 \cdot 3}, P

حلّ لـ:

P = 198.53

Principal : 198.53

أمثلة شائعة

3,000 and earns 4.1% interest compounded quarterly.What will the account be worth in 2 years?three more than the quotient of a number and 6 is equal to 7 Danny is 28 years younger than Trudy. Rose is 36. Ariana is 25 years younger than Rose and 57 years younger than Trudy. How old is Danny?Angela deposits 1000 into an account with an APR of 3.1% for 10 years. Find the future value of the account if interest is compounded monthly. Round your answer to the nearest hundredth, if necessary.10 increased by a number is 27