Solution
You deposit 3500 in an account that pays 2.16% annual interest. Find the balance after 6 years when the interest is compounded quarterly.
Solution
Solution steps
Translate the problem into an equation:
Round to the nearest hundredth:
Popular Examples
Alvin's age is two times Elga's age. The sum of their ages is 27 . What is Elga's age?Gavin is saving up money to buy a car. Gavin puts 5,000.00 into an account which earns 10% interest, compounded continuously. How much will he have in the account after 1 year?The circumference of a circle is 6pi m. What is the area, in square meters? Express your answer in terms of pi.factor first 30 prim numberThe research department of a board game company surveyed some shoppers at a local mall. The team asked shoppers how often they read the news, among other questions. Then the team played a memory card game with the shoppers. They recorded how many cards each shopper remembered.What is the probability that a randomly selected shopper reads the news 1-2 times a week given that the shopper remembered 1-3 cards?