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Popolare Word Problems >

Abbie invests 1,541 in a savings account with a fixed annual interest rate of 2% compounded 2 times per year. What will the account balance be after 6 years?

Soluzione

A bbi e in v es t s 1, 541 in a s a v in g s a cco u n t w i t h a f i x e d ann u a l in t eres t r a t e o f 2% co m p o u n d e d 2 t im es p er ye a r . Wha t w i ll t h e a cco u n t ba l an ce b e a f t er 6 ye a rs ?

Soluzione

Amount : 1736.44

Fasi della soluzione

Translate the problem into an equation:

A = 1541 (1 + \frac{0.02}{2})^{2 \cdot 6}

1541 (1 + \frac{0.02}{2})^{2 \cdot 6} = 1736.43737 \dots

Arrotondare all' hundredth più vicino:

1736.44

Amount : 1736.44

Esempi popolari

Jane's salary is increased by 3% to 25956. How much was her salary before the rise?A number is five times another number. Their sum is 54. What are the numbers?4 more than a number x is 17 product of the numbers is 240 4 more than a number x is 18