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Popular Word Problems >

Lola has 70 in an account that earns 10% interest compounded annually.To the nearest cent, how much interest will she earn in 3 year?

Solución

L o l a ha s 70 in an a cco u n t t ha t e a r n s 10% 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 r ?

Solución

Interest : 23.17

Pasos de solución

Translate the problem into an equation:

93.17 = 70 + I

Resolver para

I, 93.17 = 70 + I : I = 23.17

Interest : 23.17

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