Rhianna opened a savings account and deposited 100.00 as principal. The account earns 12% interest, compounded monthly. How much interest will she earn after 2 years?Round your answer to the nearest cent.

Solución

Solución

Interest : 26.97

Pasos de solución

Translate the problem into an equation:

126.97346 \dots = 100 + I

Resolver para

I, 126.97346 \dots = 100 + I : I = 26.97

Interest : 26.97

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