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Popolare Word Problems >

Kira has 500 in an account that earns 15% interest compounded annually.To the nearest cent, how much interest will she earn in 3 years

Soluzione

K i r a ha s 500 in an a cco u n t t ha t e a r n s 15% in t eres t co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h in t eres t w i ll s h e e a r n in 3 ye a rs

Soluzione

Interest : 260.44

Fasi della soluzione

Translate the problem into an equation:

760.4375 = 500 + I

Risolvi per

I, 760.4375 = 500 + I : I = 260.44

Interest : 260.44

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