Solution
Kaelee wants her money to work for her, so she invests $1, 000 into an account compounded quarterly at a rate of 4%. How long would it take for her to earn $500?
Solution
Solution steps
Translate the problem into an equation:
Solve for
Popular Examples
nine subtracted from the product of 8 and a number is less than 28You deposit 200 in an account that earns simple interest at an annual rate of 3%.How much money is in the account after 3 years?four more than a number is fourteen less than 3 times the numberMona opened a savings account and deposited 2,045.00 as principal. The account earns 9% interest, compounded quarterly. What is the balance after 5 years?Mandy is 1 year older than Jasmine. Bridgette is 57. Desmond is 40 years younger than Bridgette and 30 years younger than Jasmine. How old is Mandy?