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Popular Word Problems >

Charis invested 140 . She earned a simple interest of 3% per year on the initial investment. If no money was added or removed from the investment, what was the amount of interest Charis received at the end of two years?

Solución

C ha r i s in v es t e d 140 . S h e e a r n e d a s im pl e in t eres t o f 3% p er ye a r o n t h e ini t ia l in v es t m e n t . I f n o m o n ey w a s a dd e d or re m o v e d f ro m t h e in v es t m e n t, w ha t w a s t h e am o u n t o f in t eres t C ha r i s rece i v e d a t t h e e n d o f tw o ye a rs ?

Solución

Amount : 148.4

Pasos de solución

Translate the problem into an equation:

A = 140 (1 + 0.03 \cdot 2)

140 (1 + 0.03 \cdot 2) = 148.4

Amount : 148.4

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