it

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popolare Word Problems >

You invest 5,000 into the account at a 4% interest rate compounded monthly. How much money will you have after 7 years?

Soluzione

Y o u in v es t 5, 000 in t o t h e a cco u n t a t a 4% in t eres t r a t e co m p o u n d e d m o n t h l y . Ho w m u c h m o n ey w i ll yo u ha v e a f t er 7 ye a rs ?

Soluzione

Amount : 6612.57

Fasi della soluzione

Translate the problem into an equation:

A = 5000 (1 + \frac{0.04}{12})^{12 \cdot 7}

5000 (1 + \frac{0.04}{12})^{12 \cdot 7} = 6612.56931 \dots

Arrotondare all' hundredth più vicino:

6612.57

Amount : 6612.57

Esempi popolari

Lucy is four times younger than her sister. If the sum of their age is 30. What are their ages?The sum of two consecutive integers is 11. Find the numbers.A 2,000 deposit is made at a bank that pays 13% compounded quarterly. How much will you have in your account at the end of 8 years?If 7 is added to 5 times a number, the result is equal to 9 more than 4 times the number. Find the number.winston deposited 3,294 in his bank account with interest are 2.6%. How much interest was earned in five years?