Mr. Campbell has 700 with interest rate compounded QUARTERLY at 5% per YEAR for 10 years. What formula you will use to solve the total amount in the account?

解答

解答

Amount : 1150.53

求解步骤

Translate the problem into an equation:

A = 700 (1 + \frac{0.05}{4})^{4 \cdot 10}

700 (1 + \frac{0.05}{4})^{4 \cdot 10} = 1150.53362 \dots

Round to the nearest hundredth

Amount : 1150.53

流行的例子

A pair of standard dice are rolled. Find the probability of rolling a sum of 3 with these dice.Brianna is going to invest in an account paying an interest rate of 3.9% compounded quarterly. How much would Brianna need to invest, to the nearest hundred dollars, for the value of the account to reach 132,000 in 16 years?Jared puts 5,000.00 into an account to use for school expenses. The account earns 2% interest, compounded continuously. How much will be in the account after 7 years?The 周长 of a circle is 2pipi cm. Find its radius, in centimeters.Nine years ago, Kevin was seven times as old as Jerry. Nine years from now, Kevin will be two and a half times as old as Jerry. How old is Kevin?