solve the by using by using compound interest, If Josh invests 500 in a 5-year fixed interest savings bond that pays 5% per annum, how much will his entire investment be worth at the end of the term? by using compound interest

Solución

Solución

Interest : 138.14

Pasos de solución

Translate the problem into an equation:

638.14 = 500 + I

Resolver para

I, 638.14 = 500 + I : I = 138.14

Interest : 138.14

Ejemplos populares

What is the result when the number 77 is increased by 7.4%?A triángulo has a base of 5.5 centimeters and a height of 9 centimeters. What is the area?Wesley earned some money doing odd jobs last summer and put it in a savings account that earns 5% interest compounded quarterly. After 4 years, there is 800.00 in the account. How much did Wesley earn doing odd jobs?Round your answer to the nearest cent.twice the difference of a number and 9 equals 3 Four more than the product of a number and 8 is 5.