Khalil and Alana deposit 500.00 into a savings account which earns 9% interest compounded annually. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?

Soluzione

Soluzione

Amount : 647.51

Fasi della soluzione

Translate the problem into an equation:

A = 500 (1 + \frac{0.09}{1})^{1 \cdot 3}

500 (1 + \frac{0.09}{1})^{1 \cdot 3} = 647.5145

Arrotondare all' hundredth più vicino:

647.51

Amount : 647.51

Esempi popolari

Ed is 7 years older than Ted. Ed’s age is also 3/2 times Ted’s age. How old are Ed and Ted?Twice the differenza of a number and 8 is at most-20 Zeke is saving up money to buy a car. Zeke puts 7,000.00 into an account which earns 9% interest, compounded quarterly. How much will he have in the account after 4 years?Eleven subtracted from three times a number is 76. What is the number?The radius of a cerchio is 9 cm. Find its area in terms of pipi