Kirk inherited some money from his grandfather and put it in a bank account that earns 3% interest compounded quarterly. After 10 years, Kirk had 500.00 in the bank account. How much interest did he earn?

Solución

Solución

Interest : 129.18

Pasos de solución

Translate the problem into an equation:

500 = 370.82398 \dots + I

Resolver para

I, 500 = 370.82398 \dots + I : I = 129.18

Interest : 129.18

Ejemplos populares

Paul's father is 55 years old. He is thirteen years older than one and half of Paul's age. How old is Paul?Anne opened a savings account and deposited 300.00. The account earns 13% interest, compounded quarterly. If she wants to use the money to buy a new bicycle in 2 years, how much will she be able to spend on the bike?a number increased by 4 is equal to the quotient of the number and-15 john runs 15 miles in 3 hours how many miles can john run per hour Colette opened a savings account and deposited 400.00 as principal. The account earns 12% interest, compounded monthly. What is the balance after 2 years?