Hanson opened a savings account and deposited 600.00 as principal. The account earns 15% interest, compounded monthly. How much interest will he earn after 6 years?

Solución

Solución

Interest : 867.55

Pasos de solución

Translate the problem into an equation:

1467.55216 \dots = 600 + I

Resolver para

I, 1467.55216 \dots = 600 + I : I = 867.55

Interest : 867.55

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