es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Danielle is planning to invest 3000 into a savings account which compounds interest yearly.What interest rate per annum is needed for her investment to reach 6000 after 6 years?

Solución

D ani e ll e i s pl annin g t o in v es t 3000 in t o a s a v in g s a cco u n t w hi c h co m p o u n d s in t eres t ye a r l y . Wha t in t eres t r a t e p er ann u m i s n ee d e d f or h er in v es t m e n t t o re a c h 6000 a f t er 6 ye a rs ?

Solución

Rate : 12.24620 \dots %

Pasos de solución

Translate the problem into an equation:

6000 = 3000 (1 + \frac{r}{1})^{1 \cdot 6}

Resolver para

r, 6000 = 3000 (1 + \frac{r}{1})^{1 \cdot 6} : r = 12.24620 \dots %

Rate : 12.24620 \dots %

Ejemplos populares

Find the final amount of money in an account if 2, 200 is deposited at 5.5 % interest compounded weekly and the money is left for 9 years. Round the answer to 2 decimal places.The sum of a number times 10 and 23 is less than-26.12 less than the quotient of a number and 4 Deshaun needs 18464 for a future project. He can invest 4000 now at an annual rate of 8% , compounded semiannually. Assuming that no withdrawals are made, how long will it take for him to have enough money for his project?Sylvia decides to put a recent 85,600 inheritance away into an investment account gaining 9.5% interest compounded monthly. How much will be in the account at the end of 10 years? Round to the nearest cent. Explain how you got your answer