es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Benjamin invested 39,000 in an account paying an interest rate of 2.1% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 54,200?

Solución

B e njamin in v es t e d 39, 000 in an a cco u n t p a y in g an in t eres t r a t e o f 2.1% co m p o u n d e d d ai l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w l o n g w o u l d i t t ak e, t o t h e n e a res t t e n t h o f a ye 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 54, 200 ?

Solución

Time : 15.67

Pasos de solución

Translate the problem into an equation:

54200 = 39000 (1 + \frac{0.021}{365})^{365 t}

Resolver para

t, 54200 = 39000 (1 + \frac{0.021}{365})^{365 t} : t = 15.67

Time : 15.67

Ejemplos populares

you buy a watch for 60. your friend buys a watch a month later. it is now sold at a 15% what is the new price? what is the total cost including tax?Dylan invested 7,200 in an account paying an interest rate of 2.3% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 12 years?The radius of a circle is 20 ft. Find its circunferencia in terms of pipi.Sarah invested 2,500 in an account paying an interest rate of 2.1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 14 years?Owen is going to invest in an account paying an interest rate of 5.7% compounded continuously. How much would Owen need to invest, to the nearest hundred dollars, for the value of the account to reach 122,000 in 14 years?