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Populaire >

find the amont of money in an account after 9 years if 4600is deposited at 5 percent annual interest compounded monthly

Solution

find the amont of money in an account after 9 years if 4600is deposited at 5 percent annual interest compounded monthly

Solution

Amount : 7207.49

étapes des solutions

Translate the problem into an equation:

A = 4600 (1 + \frac{0.05}{12})^{12 \cdot 9}

4600 (1 + \frac{0.05}{12})^{12 \cdot 9} = 7207.49458 \dots

Arrondir à hundredth la plus proche:

7207.49

Amount : 7207.49

Exemples populaires

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