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Populaire Word Problems >

9000 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 17 years, to the nearest cent?

Solution

9000 d o ll a rs i s pl a ce d in an a cco u n t w i t h an ann u a l in t eres t r a t e o f 7.75%. Ho w m u c h w i ll b e in t h e a cco u n t a f t er 17 ye a rs, t o t h e n e a res t ce n t ?

Solution

Amount : 20857.5

étapes des solutions

Translate the problem into an equation:

A = 9000 (1 + 0.0775 \cdot 17)

9000 (1 + 0.0775 \cdot 17) = 20857.5

Amount : 20857.5

Exemples populaires

The circonférence of a circle is 14pipi m. Find its diameter, in meters..WHAT NUMBER IS 4% OF 150 55% of what number is 88 The différence of twice a number and 9 is greater than or equal to 24.Find the future value and interest earned if 8706.54 is invested for 9 years at 5% compounded semiannually