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Popolare Word Problems >

Calculate the accumulated value of a 7-year continuous annuity of 1000 per year.The annual effective interest rate is 10%.

Soluzione

C a l c u l a t e t h e a cc u m u l a t e d v a l u e o f a 7 - ye a r co n t in u o u s ann u i t y o f 1000 p er ye a r . T h e ann u a l e ff ec t i v e in t eres t r a t e i s 10%.

Soluzione

Amount : 1700

Fasi della soluzione

Translate the problem into an equation:

A = 1000 (1 + 0.1 \cdot 7)

1000 (1 + 0.1 \cdot 7) = 1700

Amount : 1700

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