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Popolare Word Problems >

Alexa puts 1,000.00 into an account to use for school expenses. The account earns 4% interest, compounded annually. How much will be in the account after 6 years?

Soluzione

A l e x a p u t s 1, 000.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 6 ye a rs ?

Soluzione

Amount : 1265.32

Fasi della soluzione

Translate the problem into an equation:

A = 1000 (1 + \frac{0.04}{1})^{1 \cdot 6}

1000 (1 + \frac{0.04}{1})^{1 \cdot 6} = 1265.31901 \dots

Arrotondare all' hundredth più vicino:

1265.32

Amount : 1265.32

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