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Popular Word Problems >

Suppose that when your friend was born, your friend's parents deposited 4000 in an account paying 4.5% interest compounded quarterly. What will the account balance be after 19 years?

Solución

S u pp ose t ha t w h e n yo u r f r i e n d w a s ​ b or n, yo u r ​ f r i e n d^{'} s p a re n t s d e p os i t e d ​4000 in an a cco u n t p a y in g 4.5​% in t eres t co m p o u n d e d q u a r t er l y . Wha t w i ll t h e a cco u n t ba l an ce b e a f t er 19 ​ ye a rs ?

Solución

Amount : 9360.71

Pasos de solución

Translate the problem into an equation:

A = 4000 (1 + \frac{0.045}{4})^{4 \cdot 19}

4000 (1 + \frac{0.045}{4})^{4 \cdot 19} = 9360.70637 \dots

Redondear al más cercano hundredth:

9360.71

Amount : 9360.71

Ejemplos populares

The diameter of a circle is 7 ft. Find its circunferencia in terms of pi pi thrice the number decreased by four the sum of two numbers is 24 and their diferencia is 2. what are the numbers?A number divided by 2, plus 5, is 8 2 less than the quotient of a number and 9 is 5.