Solution
In order to pay for college, the parents of a child invest 10, 000 in a bond that pays 6% interest compounded semiannually. How much money will there be in 17 years? Round your answer to the nearest cent.
Solution
Solution steps
Translate the problem into an equation:
Round to the nearest hundredth:
Popular Examples
Kylie invested 290 in an account paying an interest rate of 2.5% 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 390?a man gives two apples to his friend. he remains with 4 apples. How many did he have to begin withJulieta went shopping for a new phone. Sales tax where she lives is 7%. The price of the phone is 29. Find the total price including tax. Round to the nearest cent.five more than the product of a number and 6 equals 8seven more than the quotient of a number and 2 equals 4