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Austin invested 200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 15 years?

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解答

Austininvested200inanaccountpayinganinterestrateof6.1%compoundedquarterly.Assumingnodepositsorwithdrawalsaremade,howmuchmoney,tothenearesttendollars,wouldbeintheaccountafter15years?

解答

Amount:495.92
求解步骤
Translate the problem into an equation:A=200(1+40.061​)4⋅15
200(1+40.061​)4⋅15=495.91801…
Round to the nearest hundredth:495.92
Amount:495.92

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