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Популярное Word Problems >

Kaelee wants her money to work for her, so she invests \$1,000 into an account compounded quarterly at a rate of 4%. How long would it take for her to earn \$500?

Решение

K a e l ee w an t s h er m o n ey t o w or k f or h er, so s h e in v es t s $1, 000 in t o an a cco u n t co m p o u n d e d q u a r t er l y a t a r a t e o f 4%. Ho w l o n g w o u l d i t t ak e f or h er t o e a r n $500 ?

Решение

Time : 10.19

Шаги решения

Translate the problem into an equation:

1500 = 1000 (1 + \frac{0.04}{4})^{4 t}

Решите для

t, 1500 = 1000 (1 + \frac{0.04}{4})^{4 t} : t = 10.19

Time : 10.19

Популярные примеры

nine subtracted from the product of 8 and a number is less than 28 You deposit 200 in an account that earns simple interest at an annual rate of 3%.How much money is in the account after 3 years?four more than a number is fourteen less than 3 times the number Mona opened a savings account and deposited 2,045.00 as principal. The account earns 9% interest, compounded quarterly. What is the balance after 5 years?Mandy is 1 year older than Jasmine. Bridgette is 57. Desmond is 40 years younger than Bridgette and 30 years younger than Jasmine. How old is Mandy?