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Popular Word Problems >

137 000 is invested for 2 years at 5.5% p.a. compounded monthly. Calculate the interest earned.

Solução

137000 i s in v es t e d f or 2 ye a rs a t 5.5% p . a . co m p o u n d e d m o n t h l y . C a l c u l a t e t h e in t eres t e a r n e d .

Solução

Interest : 15891.67

Passos da solução

Translate the problem into an equation:

152891.66674 \dots = 137000 + I

Resolver para

I, 152891.66674 \dots = 137000 + I : I = 15891.67

Interest : 15891.67

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