fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

Suppose that 5500 is placed in an account that pays 2% interest compounded each year. Assume that no withdrawals are made from the account. Find the amount in the account at the end of 2 years.

Solution

S u pp ose t ha t 5500 i s pl a ce d in an a cco u n t t ha t p a ys 2% in t eres t co m p o u n d e d e a c h ye a r . A ss u m e t ha t n o w i t h d r a w a l s a re ma d e f ro m t h e a cco u n t . F in d t h e am o u n t in t h e a cco u n t a t t h e e n d o f 2 ye a rs .

Solution

Amount : 5722.2

étapes des solutions

Translate the problem into an equation:

A = 5500 (1 + \frac{0.02}{1})^{1 \cdot 2}

5500 (1 + \frac{0.02}{1})^{1 \cdot 2} = 5722.2

Amount : 5722.2

Exemples populaires

The product of two consecutive even numbers is 12 more than the square of the smaller number. find the numbers The area of a circle is 0.5024 square meters. What is the circle's circonférence?ten times the reciprocal of a number equals 5 times the reciprocal of 10 Tyler deposited 1000 in a savings bond. The account earns 1.11% APR compounded annually. Find the balance after 12 years.The diamètre of a circle is 35 cm. Find its area