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Populaire Word Problems >

Find the future value and interest earned if 8704.56 is invested for 7 years at 5% compounded Semiannually continuously

Solution

F in d t h e f u t u re v a l u e an d in t eres t e a r n e d i f 8704.56 i s in v es t e d f or 7 ye a rs a t 5% co m p o u n d e d S e miann u a ll y co n t in u o u s l y

Solution

Interest : 3594.76

étapes des solutions

Translate the problem into an equation:

12299.32 = 8704.56 + I

Solutionner pour

I, 12299.32 = 8704.56 + I : I = 3594.76

Interest : 3594.76

Exemples populaires

A pair of numbers has a sum of 52 and a différence of 11. Find the numbers.Three times the sum of a number and 28 is at least 18 177 is 20% of what number You deposit all of your graduation money, 2,560 , into an account earning 3.5% interest, compounded annually. You want to let it sit, no deposits or withdraws, while you are in college for 4 years. How much will you have at the end of 4 years?Find how long it takes a 1500 investment to earn 800 interest if it is invested at 7% interest compounded quarterly