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Beliebt Word Problems >

John placed 2,000 in a savings account which compounds interest annually at a rate of 4.3% . How much will he have in the account after 3 years?

Lösung

J o hn pl a ce d 2, 000 in 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 ann u a ll y a t a r a t e o f 4.3% . Ho w m u c h w i ll h e ha v e in t h e a cco u n t a f t er 3 ye a rs ?

Lösung

Amount : 2269.25

Schritte zur Lösung

Translate the problem into an equation:

A = 2000 (1 + \frac{0.043}{1})^{1 \cdot 3}

2000 (1 + \frac{0.043}{1})^{1 \cdot 3} = 2269.253014

Round to the nearest hundredth:

2269.25

Amount : 2269.25

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