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Popular Word Problems >

An engineer invests 10,000 a year for 20 years into a fund. At the end of the 20 years, how much money is in the fund if the interest rate was 4%?

Solução

A n e n g in eer in v es t s 10, 000 a ye a r f or 20 ye a rs in t o a f u n d . A t t h e e n d o f t h e 20 ye a rs, h o w m u c h m o n ey i s in t h e f u n d i f t h e in t eres t r a t e w a s 4% ?

Solução

Amount : 18000

Passos da solução

Translate the problem into an equation:

A = 10000 (1 + 0.04 \cdot 20)

10000 (1 + 0.04 \cdot 20) = 18000

Amount : 18000

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