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Populaire Word Problems >

Sophie opened a savings account and deposited 3,000.00 as principal. The account earns 4% interest, compounded quarterly. How much interest will she earn after 8 years?

Solution

S o p hi e o p e n e d a s a v in g s a cco u n t an d d e p os i t e d 3, 000.00 a s p r in c i p a l . T h e a cco u n t e a r n s 4% in t eres t, co m p o u n d e d q u a r t er l y . Ho w m u c h in t eres t w i ll s h e e a r n a f t er 8 ye a rs ?

Solution

Interest : 1124.82

étapes des solutions

Translate the problem into an equation:

4124.82203 \dots = 3000 + I

Solutionner pour

I, 4124.82203 \dots = 3000 + I : I = 1124.82

Interest : 1124.82

Exemples populaires

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