7 years ago, Tim won some money in the lottery and put it in a bank account that earns 15% interest compounded quarterly. If Tim currently has 400.00 in the bank account, how much interest has he earned?

Solución

Solución

Interest : 257.31

Pasos de solución

Translate the problem into an equation:

400 = \frac{4 ^{28} \cdot 5}{2.52497 E 15} + I

Resolver para

I, 400 = \frac{4 ^{28} \cdot 5}{2.52497 E 15} + I : I = 257.31

Interest : 257.31

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