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Popular Word Problems >

8000 for 4 years at 6.5% compounded monthly. what is the total amount accumulated after 4 years?

Solución

​8000 f or 4 ye a rs a t 6.5​% co m p o u n d e d m o n t h l y . w ha t i s t h e t o t a l am o u n t a cc u m u l a t e d a f t er 4 ye a rs ?

Solución

Amount : 10368.16

Pasos de solución

Translate the problem into an equation:

A = 8000 (1 + \frac{0.065}{12})^{12 \cdot 4}

8000 (1 + \frac{0.065}{12})^{12 \cdot 4} = 10368.16348 \dots

Redondear al más cercano hundredth:

10368.16

Amount : 10368.16

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