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Popular Word Problems >

Sandeep opened a savings account and deposited 100.00 as principal. The account earns 9% interest, compounded annually. How much interest will he earn after 7 years?

Solución

S an d ee p o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 100.00 a s p r in c i p a l . T h e a cco u n t e a r n s 9% in t eres t, co m p o u n d e d ann u a ll y . Ho w m u c h in t eres t w i ll h e e a r n a f t er 7 ye a rs ?

Solución

Interest : 82.8

Pasos de solución

Translate the problem into an equation:

182.80391 \dots = 100 + I

Resolver para

I, 182.80391 \dots = 100 + I : I = 82.8

Interest : 82.8

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