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Populaire Word Problems >

Zane is saving up money to buy a car. Zane puts 10,000.00 into an account which earns 1% interest, compounded annually. How much will he have in the account after 9 years?

Solution

Z an e i s s a v in g u p m o n ey t o b u y a c a r . Z an e p u t s 10, 000.00 in t o an a cco u n t w hi c h e a r n s 1% in t eres t, co m p o u n d e d ann u a ll y . 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 9 ye a rs ?

Solution

Amount : 10936.85

étapes des solutions

Translate the problem into an equation:

A = 10000 (1 + \frac{0.01}{1})^{1 \cdot 9}

10000 (1 + \frac{0.01}{1})^{1 \cdot 9} = 10936.85272 \dots

Arrondir à hundredth la plus proche:

10936.85

Amount : 10936.85

Exemples populaires

6 The sum of a number and twice its square is 6 . Find the number.two more than thrice a number x is fourteen . How much money should I invest, to the nearest cent, at 6%/a compounded monthly to have 20,000in 4 years Find two consecutive whole numbers that lies sqrt(89) between.if 6 is added to a certain number, the result is 13. what is the number