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Beliebt Word Problems >

A principal of 3300 is invested at 7.25% interest, compounded annually. How much will the investment be worth after 7 years?

Lösung

A p r in c i p a l o f 3300 i s in v es t e d a t 7.25% 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 t h e in v es t m e n t b e w or t h a f t er 7 ye a rs ?

Lösung

Amount : 5386.36

Schritte zur Lösung

Translate the problem into an equation:

A = 3300 (1 + \frac{0.0725}{1})^{1 \cdot 7}

3300 (1 + \frac{0.0725}{1})^{1 \cdot 7} = 5386.35590 \dots

Round to the nearest hundredth:

5386.36

Amount : 5386.36

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