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인기 있는 Word Problems >

Find the amount in the account for the given principal, interest rate, time, and compounding period.Pequals3,940, requals5.5%, tequals19 years; compounded monthly

해법

F in d t h e am o u n t in t h e a cco u n t f or t h e g i v e n ​ p r in c i p a l, in t eres t ​ r a t e, t im e, an d co m p o u n d in g p er i o d . P e q u a l s ​3, 940​, re q u a l s 5.5​%, t e q u a l s 19 ​ ye a rs; co m p o u n d e d m o n t h l y

해법

Amount : 11176.27

솔루션 단계

Translate the problem into an equation:

A = 3940 (1 + \frac{0.055}{12})^{12 \cdot 19}

3940 (1 + \frac{0.055}{12})^{12 \cdot 19} = 11176.27495 \dots

가장 가까운 hundredth 으로 반올림:

11176.27

Amount : 11176.27

인기 있는 예

Find the two consecutive integers such that three times the smaller integer added to two times the greater integer equals 42 Find two consecutive whole numbers that sqrt(47) lies between.42 decreased by twice a number How much would you need to deposit in an account now in 주문 to have 4000 in the account in 10 years? Assume the account earns 7% interest compounded monthly.The 차이 of 10 and a number is-1