it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

Santiago is going to invest in an account paying an interest rate of 1.5% compounded quarterly. How much would Santiago need to invest, to the nearest dollar, for the value of the account to reach 320 in 14 years?

Soluzione

S an t ia g o i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 1.5% co m p o u n d e d q u a r t er l y . Ho w m u c h w o u l d S an t ia g o n ee d t o in v es t, t o t h e n e a res t d o ll a r, f or t h e v a l u e o f t h e a cco u n t t o re a c h 320 in 14 ye a rs ?

Soluzione

Principal : 259.49

Fasi della soluzione

Translate the problem into an equation:

320 = P (1 + \frac{0.015}{4})^{4 \cdot 14}

Risolvi per

P, 320 = P (1 + \frac{0.015}{4})^{4 \cdot 14} : P = 259.49

Principal : 259.49

Esempi popolari

Mia is going to invest in an account paying an interest rate of 4.3% compounded continuously. How much would Mia need to invest, to the nearest cent, for the value of the account to reach 13,700 in 18 years?The diametro of a circle is 32 cm. Find its area to the nearest whole number.A bicycle rider travels 50 km from North to South in 2.5 hours.What is the cyclist’s speed?What is the velocity of the cyclist?Jackson invested 8,800 in an account paying an interest rate of 7% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 13 years?Jacob is going to invest in an account paying an interest rate of 2.6% compounded continuously. How much would Jacob need to invest, to the nearest dollar, for the value of the account to reach 10,500 in 18 years?