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Assume that you deposit 2,107 into an account that pays 10 percent per annum. How much money will be in the account 22 years from today?

Soluzione

Assume that you deposit 2, 107 into an account that pays 10 percent per annum. How much money will be in the account 22 years from today?

Soluzione

Amount : 6742.4

Fasi della soluzione

Translate the problem into an equation:

A = 2107 (1 + 0.1 \cdot 22)

2107 (1 + 0.1 \cdot 22) = 6742.4

Amount : 6742.4

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