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شائع Word Problems >

Kenneth puts 700.00 into an account to use for school expenses. The account earns 12% interest, compounded quarterly. How much will be in the account after 4 years?

الحلّ

Ke nn e t h p u t s 700.00 in t o an a cco u n t t o u se f or sc h oo l e x p e n ses . T h e a cco u n t e a r n s 12% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h w i ll b e in t h e a cco u n t a f t er 4 ye a rs ?

الحلّ

Amount : 1123.29

خطوات الحلّ

Translate the problem into an equation:

A = 700 (1 + \frac{0.12}{4})^{4 \cdot 4}

700 (1 + \frac{0.12}{4})^{4 \cdot 4} = 1123.29450 \dots

Round to the nearest hundredth:

1123.29

Amount : 1123.29

أمثلة شائعة

If 15% of a number is 0.00036, what is the number?The sum of the squares of five consecutive positive integers starting with is 2655 The sum of two numbers is 30 and their difference is 12 .Write two equations and find the numbers.The radius of a circle is 17 m. Find its area in terms of seven less than the product of 5 and a number is equal to two