Zachary opened a savings account and deposited 800.00. The account earns 9% interest, compounded quarterly. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?

해법

해법

Amount : 1044.84

솔루션 단계

Translate the problem into an equation:

A = 800 (1 + \frac{0.09}{4})^{4 \cdot 3}

800 (1 + \frac{0.09}{4})^{4 \cdot 3} = 1044.83999 \dots

가장 가까운 hundredth 으로 반올림:

1044.84

Amount : 1044.84

Zachary opened a savings account and deposited 800.00. The account earns 9% interest, compounded quarterly. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?

해법

해법

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