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Popular Word Problems >

Jamie placed 2,800 in a savings account which earns 4.3% interest, compounded annually. How much will she have in the account after 13 years?

Solução

J ami e pl a ce d 2, 800 in a s a v in g s a cco u n t w hi c h e a r n s 4.3% 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 s h e ha v e in t h e a cco u n t a f t er 13 ye a rs ?

Solução

Amount : 4840.1

Passos da solução

Translate the problem into an equation:

A = 2800 (1 + \frac{0.043}{1})^{1 \cdot 13}

2800 (1 + \frac{0.043}{1})^{1 \cdot 13} = 4840.09672 \dots

Round to the nearest hundredth:

4840.1

Amount : 4840.1

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