es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Reggie opened a savings account and deposited 200.00. The account earns 10% interest, compounded annually. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?

Solución

R e gg i e o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 200.00. T h e a cco u n t e a r n s 10% in t eres t, co m p o u n d e d ann u a ll y . I f h e w an t s t o u se t h e m o n ey t o b u y a n e w bi cyc l e in 3 ye a rs, h o w m u c h w i ll h e b e ab l e t o s p e n d o n t h e bik e ?

Solución

Amount : 266.2

Pasos de solución

Translate the problem into an equation:

A = 200 (1 + \frac{0.1}{1})^{1 \cdot 3}

200 (1 + \frac{0.1}{1})^{1 \cdot 3} = 266.2

Amount : 266.2

Ejemplos populares

What is the volume of a sphere with a radio of 6.7 m, rounded to the nearest tenth of a cubic meter?The radius of a círculo is 8 cm. Find its area to the nearest whole number.Fred is 4 years older than Barney. Five years ago the sum of their ages was 48.How old are they now?Josefa wants 5,000 saved in 2 years to make a down payment on a house. How much money should she invest now at 4.45% compounded annually in ordenar to meet her goal?Taylor invested 650 in an account paying an interest rate of 2.3% 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 880?