fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire >

You deposit 100 in an investment account that earns 7.8% annual interest compounded monthly.What is the balance of the account after 6 years?

Solution

You deposit 100 in an investment account that earns 7.8% annual interest compounded monthly.What is the balance of the account after 6 years?

Solution

Amount : 159.44

étapes des solutions

Translate the problem into an equation:

A = 100 (1 + \frac{0.078}{12})^{12 \cdot 6}

100 (1 + \frac{0.078}{12})^{12 \cdot 6} = 159.43809 \dots

Arrondir à hundredth la plus proche:

159.44

Amount : 159.44

Exemples populaires

Find the original price of a pair of shoes if the sale price is 56 after a 20 % discount.the sum of 3 times a number and 4 is 6 .The circonférence of a circle is 15pi ft. What is the area, in square feet? Express your answer in terms of pipi.A square piece of glass has a perimeter of 28 centimeters. How long is each side of the piece of glass?2500 dollars is placed in an account with an annual interest rate of 9%. To the nearest year, how long will it take for the account value to reach 7500 dollars?