4 years ago, Matt won some money in the lottery and put it in a bank account that earns 1% interest compounded annually. If Matt currently has 400.00 in the bank account, how much interest has he earned?

Solución

Solución

Interest : 15.61

Pasos de solución

Translate the problem into an equation:

400 = 384.39213 \dots + I

Resolver para

I, 400 = 384.39213 \dots + I : I = 15.61

Interest : 15.61

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