Grace invested 5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 11 years?

解答

Grace invested 5, 200 in an account paying an interest rate of 4.6% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 11 years?

解答

Amount : 8624.67

求解步骤

Translate the problem into an equation:

A = 5200 (1 + \frac{0.046}{365})^{365 \cdot 11}

5200 (1 + \frac{0.046}{365})^{365 \cdot 11} = 8624.67036 \dots

Round to the nearest hundredth:

8624.67

Amount : 8624.67

流行的例子

Brody invested 220 in an account paying an interest rate of 3.6% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 17 years?A car travels at an 平均值 speed of 64 miles per hour. How long does it take to travel 288 miles?Elijah invested 280 in an account paying an interest rate of 2.1% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 360?The 周长 of a circle is 9pi ft. What is the area, in square feet? Express your answer in terms of pipi.Four times the larger of two numbers is equal to seven times the smaller. The sum of the numbers is 22. Find the numbers