pt

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Maggie deposited 100.00 into a new savings account that earns 10% interest compounded monthly. How long will it take for the balance to grow to 212.00? Round your answer to the nearest month.

Solução

M a gg i e d e p os i t e d 100.00 in t o a n e w s a v in g s a cco u n t t ha t e a r n s 10% in t eres t co m p o u n d e d m o n t h l y . Ho w l o n g w i ll i t t ak e f or t h e ba l an ce t o g ro w t o 212.00 ? R o u n d yo u r an s w er t o t h e n e a res t m o n t h .

Solução

Time : 7.55

Passos da solução

Translate the problem into an equation:

212 = 100 (1 + \frac{0.1}{12})^{12 t}

Resolver para

t, 212 = 100 (1 + \frac{0.1}{12})^{12 t} : t = 7.55

Time : 7.55

Exemplos populares

The diâmetro of a circular watch face is 3 centimeters. Find the area of the watch face.Isabella inherited some money from her grandfather and put it in a bank account that earns 15% interest compounded quarterly. After 2 years, Isabella had 500.00 in the bank account. How much interest did she earn?If 10,000 is invested at 6% annual interest compounded yearly, what is the account balance after 4 years, assuming no additional deposits or withdrawals are made?Suppose an investment earns 3.5% interest compounded continuously. Find the future value of a 4600 investment after 22 years. Round your answer to the nearest cent, if necessary.You deposit 3000 in an account earning 5% interest compounded monthly. How much will you have in the account in 69 years?