fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

Hannah opened a savings account and deposited 9,720.00 as principal. The account earns 7% interest, compounded annually. What is the balance after 9 years?

Solution

H annah o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 9, 720.00 a s p r in c i p a l . T h e a cco u n t e a r n s 7% in t eres t, co m p o u n d e d ann u a ll y . Wha t i s t h e ba l an ce a f t er 9 ye a rs ?

Solution

Amount : 17869.82

étapes des solutions

Translate the problem into an equation:

A = 9720 (1 + \frac{0.07}{1})^{1 \cdot 9}

9720 (1 + \frac{0.07}{1})^{1 \cdot 9} = 17869.82354 \dots

Arrondir à hundredth la plus proche:

17869.82

Amount : 17869.82

Exemples populaires

If I'm 13 years old, how old will I be in 7 years?The sum of 4 times a number and 7 is 9 You pick a card at random, put it back, and then pick another card at random. What is the probability of picking a 2 and then picking a 2?What is the volume of a cube with an edge length of 0.8 m?how long it will take an initial investment of 12,750 to grow to 36,975, if the account earns 11.5% interest per year, compounded quarterly. Round the solution to two decimal places.