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شائع Word Problems >

Isabelle wants 5,000 saved in 6 years to make a down payment on a house. How much money should she invest now at 7.05% compounded monthly in order to meet her goal?

الحلّ

I s ab e ll e w an t s 5, 000 s a v e d in 6 ye a rs t o mak e a d o w n p a y m e n t o n a h o u se . Ho w m u c h m o n ey s h o u l d s h e in v es t n o w a t 7.05% co m p o u n d e d m o n t h l y in or d er t o m ee t h er g o a l ?

الحلّ

Principal : 3279.45

خطوات الحلّ

Translate the problem into an equation:

5000 = P (1 + \frac{0.0705}{12})^{12 \cdot 6}

5000 = P (1 + \frac{0.0705}{12})^{12 \cdot 6}, P

حلّ لـ:

P = 3279.45

Principal : 3279.45

أمثلة شائعة

four times the sum of a number and 25 is at least 24 9 less than the product of 6 and a number is equal to 4 A standard die is rolled. Find the probability that the number rolled is less than 3. Express your answer as a fraction in lowest terms or a decimal rounded to the nearest millionth.seven less a number is equivalent to eleven sophie put 200 in a savings account. The account had an 8 percent simple annual interest rate. How much money was in her account after one year