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Popular Word Problems >

Oscar has 3,000 in an account that earns 6% interest compounded annually.To the nearest cent, how much interest will he earn in 1 year?

Solución

O sc a r ha s 3, 000 in an a cco u n t t ha t e a r n s 6% 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 h e e a r n in 1 ye a r ?

Solución

Interest : 180

Pasos de solución

Translate the problem into an equation:

3180 = 3000 + I

Resolver para

I, 3180 = 3000 + I : I = 180

Interest : 180

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