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Популярное Word Problems >

Suppose there is 4500 in a bank account at an interest rate of 11% compounded each year.Find the amount owed at the end of 2 years. Do not do any rounding

Решение

S u pp ose t h ere i s 4500 in a bank a cco u n t a t an in t eres t r a t e o f 11% co m p o u n d e d e a c h ye a r . F in d t h e am o u n t o w e d a t t h e e n d o f 2 ye a rs . Do n o t d o an y ro u n d in g

Решение

Amount : 5544.45

Шаги решения

Translate the problem into an equation:

A = 4500 (1 + \frac{0.11}{1})^{1 \cdot 2}

4500 (1 + \frac{0.11}{1})^{1 \cdot 2} = 5544.45

Amount : 5544.45

Популярные примеры

Gabriel and Victoria deposit 3,000.00 into a savings account which earns 14% interest compounded monthly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?three less than five time a number is the as two more than twice that number A number a is more than 6 Seven subtracted from the product of 2 and a number is greater than or equal to21 how many quarters are there in 5/4