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Popular Word Problems >

Pablo deposited 600 in an account earning 2% interest compounded annually.To the nearest cent, how much interest will he earn in 3 years?

Solução

P ab l o d e p os i t e d 600 in an a cco u n t e a r nin g 2% in t eres t co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h in t eres t w i ll h e e a r n in 3 ye a rs ?

Solução

Interest : 36.72

Passos da solução

Translate the problem into an equation:

636.7248 = 600 + I

Resolver para

I, 636.7248 = 600 + I : I = 36.72

Interest : 36.72

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