Jim inherited some money from his grandfather and put it in a bank account that earns 1% interest compounded quarterly. After 7 years, Jim had 500.00 in the bank account. How much interest did he earn?

Soluzione

Soluzione

Interest : 33.76

Fasi della soluzione

Translate the problem into an equation:

500 = \frac{4 ^{28} \cdot 125}{1.93189 E 16} + I

Risolvi per

I, 500 = \frac{4 ^{28} \cdot 125}{1.93189 E 16} + I : I = 33.76

Interest : 33.76

Esempi popolari

5 less than the opposite of a number is three times a number and-7 Jared is saving up money to buy a car. Jared puts 5,961.00 into an account which earns 13% interest, compounded monthly. How much will he have in the account after 7 years?Two times the sum of a number and 15 is at least 25 Ava gets 1 candy. She buys 3 more. how many does she have in all If 75 is invested at an interest rate of 8% per year and is compounded monthly, how much will the investment be worth in 15 years?