Britney earned some money doing odd jobs last summer and put it in a savings account that earns 15% interest compounded monthly. After 4 years, there is 700.00 in the account. How much did Britney earn doing odd jobs?

Solución

Solución

Principal : 385.6

Pasos de solución

Translate the problem into an equation:

700 = P (1 + \frac{0.15}{12})^{12 \cdot 4}

Resolver para

P, 700 = P (1 + \frac{0.15}{12})^{12 \cdot 4} : P = 385.6

Principal : 385.6

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