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شائع Word Problems >

500, 000 into a bank account that pays you 6% annual rate compounded monthly. what is the amount after one year

الحلّ

500, 000 in t o a bank a cco u n t t ha t p a ys yo u 6% ann u a l r a t e co m p o u n d e d m o n t h l y . w ha t i s t h e am o u n t a f t er o n e ye a r

الحلّ

Amount : 530838.91

خطوات الحلّ

Translate the problem into an equation:

A = 500000 (1 + \frac{0.06}{12})^{12 \cdot 1}

500000 (1 + \frac{0.06}{12})^{12 \cdot 1} = 530838.90593 \dots

Round to the nearest hundredth:

530838.91

Amount : 530838.91

أمثلة شائعة

Find two consecutive integers whose sum is-97 The sum of two numbers is 72. The larger number is 3 less than 3 times the smaller number. Find the smaller number.3500 dollars is placed in an account with an annual interest rate of 8.75%. To the nearest tenth of a year, how long will it take for the account value to reach 36700 dollars?The quotient of 8 and a number is-2 Six times the sum of a number and 3 is 12 less than 12 times the number.