suppose you have 590 to invest in an account that earns 1 percent per year compounded annually. How much money will you have after 11 years? round to the nearest penny

الحلّ

الحلّ

Amount : 658.24

خطوات الحلّ

Translate the problem into an equation:

A = 590 (1 + \frac{0.01}{1})^{1 \cdot 11}

590 (1 + \frac{0.01}{1})^{1 \cdot 11} = 658.24432 \dots

Round to the nearest hundredth:

658.24

Amount : 658.24

أمثلة شائعة

A house has increased in value by 59% since it was purchased. If the original value is 580,000 what was the value after the increase?Kirk opened a savings account and deposited 8,459.00 as principal. The account earns 6% interest, compounded quarterly. What is the balance after 2 years?marin is 12 years old and he The sum of two numbers is 54. The larger number is 6 more than the smaller number. What are the numbers?which number is greater than 4^{-2}