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Beliebt Word Problems >

Craig has 4,427 in an account. The interest rate is 2% compounded annually.To the nearest cent, how much interest will he earn in 4 years?

Lösung

C r ai g ha s 4, 427 in an a cco u n t . T h e in t eres t r a t e i s 2% 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 4 ye a rs ?

Lösung

Interest : 364.93

Schritte zur Lösung

Translate the problem into an equation:

4791.92717 \dots = 4427 + I

Löse nach

I, 4791.92717 \dots = 4427 + I : I = 364.93

Interest : 364.93

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