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인기 있는 Word Problems >

Kenji invests 3,500 at an interest rate of 3%, compounded monthly. About how much is the investment worth at the end of 5 years?

해법

Ke nji in v es t s 3, 500 a t an in t eres t r a t e o f 3%, co m p o u n d e d m o n t h l y . A b o u t h o w m u c h i s t h e in v es t m e n t w or t h a t t h e e n d o f 5 ye a rs ?

해법

Amount : 4065.66

솔루션 단계

Translate the problem into an equation:

A = 3500 (1 + \frac{0.03}{12})^{12 \cdot 5}

3500 (1 + \frac{0.03}{12})^{12 \cdot 5} = 4065.65873 \dots

가장 가까운 hundredth 으로 반올림:

4065.66

Amount : 4065.66

인기 있는 예

If the radius of this circle is 9m , the 지름 is...the price of an item has been reduced by 55% the original price was 40 what is the price of the item now The sum of two numbers is 17 . The second number is 9 less than the first number.Billy opened a savings account and deposited 1,000.00 as principal. The account earns 5% interest, compounded annually. What is the balance after 3 years?The 차이 of twice a number and 5 is at most 24