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شائع Word Problems >

Santiago is going to invest in an account paying an interest rate of 1.5% compounded quarterly. How much would Santiago need to invest, to the nearest dollar, for the value of the account to reach 320 in 14 years?

الحلّ

S an t ia g o i s g o in g t o in v es t in an a cco u n t p a y in g an in t eres t r a t e o f 1.5% co m p o u n d e d q u a r t er l y . Ho w m u c h w o u l d S an t ia g o n ee d t o in v es t, t o t h e n e a res t d o ll a r, f or t h e v a l u e o f t h e a cco u n t t o re a c h 320 in 14 ye a rs ?

الحلّ

Principal : 259.49

خطوات الحلّ

Translate the problem into an equation:

320 = P (1 + \frac{0.015}{4})^{4 \cdot 14}

320 = P (1 + \frac{0.015}{4})^{4 \cdot 14}, P

حلّ لـ:

P = 259.49

Principal : 259.49

أمثلة شائعة

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