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Popular Word Problems >

Christine is saving up money to buy a car. Christine puts 10,000.00 into an account which earns 11% interest, compounded quarterly. How much will she have in the account after 9 years?

Solução

C h r i s t in e i s s a v in g u p m o n ey t o b u y a c a r . C h r i s t in e p u t s 10, 000.00 in t o an a cco u n t w hi c h e a r n s 11% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h w i ll s h e ha v e in t h e a cco u n t a f t er 9 ye a rs ?

Solução

Amount : 26554.98

Passos da solução

Translate the problem into an equation:

A = 10000 (1 + \frac{0.11}{4})^{4 \cdot 9}

10000 (1 + \frac{0.11}{4})^{4 \cdot 9} = 26554.97517 \dots

Round to the nearest hundredth:

26554.98

Amount : 26554.98

Exemplos populares

The sum of three consecutive integers is 75. Find the value of the least of the three.Twice a number increased by 15 is at least 7 When 7 is subtracted from a certain number, the result is 31 . Determine the number.What number is 15% smaller than 640 a number subtracted from (-14) is-4