Kirk puts 6,000.00 into an account to use for school expenses. The account earns 4% interest, compounded quarterly. How much will be in the account after 4 years?

Lời Giải

Kirk puts 6, 000.00 into an account to use for school expenses. The account earns 4% interest, compounded quarterly. How much will be in the account after 4 years?

Lời Giải

Amount : 7035.47

Các bước giải pháp

Translate the problem into an equation:

A = 6000 (1 + \frac{0.04}{4})^{4 \cdot 4}

6000 (1 + \frac{0.04}{4})^{4 \cdot 4} = 7035.47186 \dots

Làm tròn đến hundredth gần nhất:

7035.47

Amount : 7035.47

Ví dụ phổ biến

six times a number decreased by 8 is less than five times the number plus 21 A principal of 4400 is invested at 8.75% interest, compounded annually. How much will the investment be worth after 14 years?A circle has a chu vi of 14pi.What is its exact diameter?A man is at present seven times as old as his daughter. In ten years from now he will be three times as old as his daughter will be then. How old is his daughter now?Suppose you invested 200 dollars at annual interest rate of 5% compounded continuously. How much money will you have in the account after 4 years?