he

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

פּוֹפּוּלָרִי >

you invest 500 dollars at an 8% annual interest rate, if it is compounded monthly how much is your investment worth after 4 years

פתרון

you invest 500 dollars at an 8% annual interest rate, if it is compounded monthly how much is your investment worth after 4 years

פתרון

Amount : 687.83

צעדי פתרון

Translate the problem into an equation:

A = 500 (1 + \frac{0.08}{12})^{12 \cdot 4}

500 (1 + \frac{0.08}{12})^{12 \cdot 4} = 687.83305 \dots

Round to the nearest hundredth:

687.83

Amount : 687.83

דוגמאות פופולריות

One eighth of a number is less than or equal to 3 negative three times a number is more than nine What is the area in m2 of a square with 50mm side?John has 2 apples. both apples were for 10 dollars. how much price is for every apple The area of a circle is 49𝜋 square centimeters. What is the circumference?