Gabrielle puts 8,000.00 into an account to use for school expenses. The account earns 2% interest, compounded quarterly. How much will be in the account after 5 years?

解

Gabrielle puts 8, 000.00 into an account to use for school expenses. The account earns 2% interest, compounded quarterly. How much will be in the account after 5 years?

解

Amount : 8839.16

解答ステップ

Translate the problem into an equation:

A = 8000 (1 + \frac{0.02}{4})^{4 \cdot 5}

8000 (1 + \frac{0.02}{4})^{4 \cdot 5} = 8839.16461 \dots

最も近い

h u n d re d t h

に四捨五入:

8839.16

Amount : 8839.16

Gabrielle puts 8,000.00 into an account to use for school expenses. The account earns 2% interest, compounded quarterly. How much will be in the account after 5 years?

解

解

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