To pay for new machinery in 7 years, a company owner invests 20,000 at 7.5% compounded quarterly. How much money will be available in 7 years? Round your answer to the nearest cent.

解

To pay for new machinery in 7 years, a company owner invests 20, 000 at 7.5% compounded quarterly. How much money will be available in 7 years? Round your answer to the nearest cent.

解

Amount : 33645.22

解答ステップ

Translate the problem into an equation:

A = 20000 (1 + \frac{0.075}{4})^{4 \cdot 7}

20000 (1 + \frac{0.075}{4})^{4 \cdot 7} = 33645.22249 \dots

最も近い

h u n d re d t h

に四捨五入:

33645.22

Amount : 33645.22

To pay for new machinery in 7 years, a company owner invests 20,000 at 7.5% compounded quarterly. How much money will be available in 7 years? Round your answer to the nearest cent.

解

解

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