Christine inherited some money from her grandfather and put it in a bank account that earns 7% interest compounded monthly. After 3 years, Christine had 800.00 in the bank account. How much interest did she earn?Round your answer to the nearest cent.

Solución

Solución

Interest : 151.14

Pasos de solución

Translate the problem into an equation:

800 = 648.86316 \dots + I

Resolver para

I, 800 = 648.86316 \dots + I : I = 151.14

Interest : 151.14

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