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Popular Word Problems >

Suzie has 9,126 in an account. The interest rate is 10% compounded annually.To the nearest cent, how much will she have in 5 years?

Solución

S u z i e ha s 9, 126 in an a cco u n t . T h e in t eres t r a t e i s 10% co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h w i ll s h e ha v e in 5 ye a rs ?

Solución

Amount : 14697.51

Pasos de solución

Translate the problem into an equation:

A = 9126 (1 + \frac{0.1}{1})^{1 \cdot 5}

9126 (1 + \frac{0.1}{1})^{1 \cdot 5} = 14697.51426

Redondear al más cercano hundredth:

14697.51

Amount : 14697.51

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