Florence inherited some money from her grandfather and put it in a bank account that earns 5% interest compounded monthly. After 6 years, Florence had 600.00 in the bank account. How much interest did she earn?

Solución

Solución

Interest : 155.23

Pasos de solución

Translate the problem into an equation:

600 = 444.76805 \dots + I

Resolver para

I, 600 = 444.76805 \dots + I : I = 155.23

Interest : 155.23

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