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شائع Word Problems >

Suppose that 10, 000 is invested at 7% interest. Find the amount of money in the account after 9 years if the interest is compounded annually.

الحلّ

S u pp ose t ha t 10, 000 i s in v es t e d a t 7​% in t eres t . F in d t h e am o u n t o f m o n ey in t h e a cco u n t a f t er 9 ye a rs i f t h e in t eres t i s co m p o u n d e d ann u a ll y .

الحلّ

Amount : 18384.59

خطوات الحلّ

Translate the problem into an equation:

A = 10000 (1 + \frac{0.07}{1})^{1 \cdot 9}

10000 (1 + \frac{0.07}{1})^{1 \cdot 9} = 18384.59212 \dots

Round to the nearest hundredth:

18384.59

Amount : 18384.59

أمثلة شائعة

What is the volume of a sphere with a radius of 6?8 less than the product of 5 and a number.Determine the future value if 750 is invested at 7.25% for 4 years compounded annually.John is 34 years old. Craig is 10 years older than John and 41 years older than Ronald. How old is Ronald?Khalil opened a savings account and deposited 300.00 as principal. The account earns 11% interest, compounded annually. What is the balance after 4 years?