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Popular Word Problems >

Molly opened a savings account and deposited 800.00 as principal. The account earns 15% interest, compounded annually. How much interest will she earn after 2 years??

Solución

M o ll y 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 800.00 a s p r in c i p a l . T h e a cco u n 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 . Ho w m u c h in t eres t w i ll s h e e a r n a f t er 2 ye a rs ??

Solución

Interest : 258

Pasos de solución

Translate the problem into an equation:

1058 = 800 + I

Resolver para

I, 1058 = 800 + I : I = 258

Interest : 258

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