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Popular Word Problems >

Alice has 1,857 in a savings account that earns 14% interest, compounded annually.To the nearest cent, how much will she have in 4 years?

Solução

A l i ce ha s 1, 857 in a s a v in g s a cco u n t t ha t e a r n s 14% in t eres t, co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h w i ll s h e ha v e in 4 ye a rs ?

Solução

Amount : 3136.4

Passos da solução

Translate the problem into an equation:

A = 1857 (1 + \frac{0.14}{1})^{1 \cdot 4}

1857 (1 + \frac{0.14}{1})^{1 \cdot 4} = 3136.39901 \dots

Round to the nearest hundredth:

3136.4

Amount : 3136.4

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