The Garcias are saving up to go on a family vacation in 5 years. They invest 3200 into an account with an annual interest rate of 1.46% compounded quarterly.How much interest is earned on the Garcias' investment after 5 years?

Solución

Solución

Interest : 241.88

Pasos de solución

Translate the problem into an equation:

3441.88025 \dots = 3200 + I

Resolver para

I, 3441.88025 \dots = 3200 + I : I = 241.88

Interest : 241.88

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