Jayla took out a loan from a bank at 5% interest compounded annually. After 3 years, the balance on the loan was 1,000.00. How much interest had accumulated on the loan?

Solución

Jayla took out a loan from a bank at 5% interest compounded annually. After 3 years, the balance on the loan was 1, 000.00. How much interest had accumulated on the loan?

Solución

Interest : 136.16

Pasos de solución

Translate the problem into an equation:

1000 = 863.83759 \dots + I

Resolver para

I, 1000 = 863.83759 \dots + I : I = 136.16

Interest : 136.16

Ejemplos populares

the square of five more than a number Three times the sum of a number and 2 equals 8.the sum of two consecutive integers The total área covered by four identical sidewalk squares is 36 square feet. What is the side length of one sidewalk square?The sum of 4 consecutive integers is 130 .What is the third number in this sequence?