Jeremiah opened a savings account and deposited 100.00 as principal. The account earns 4% interest, compounded quarterly. How much interest will he earn after 4 years?

Solución

Solución

Interest : 17.26

Pasos de solución

Translate the problem into an equation:

117.25786 \dots = 100 + I

Resolver para

I, 117.25786 \dots = 100 + I : I = 17.26

Interest : 17.26

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