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Popolare Word Problems >

Derek deposited 7,615 in an account earning 10% interest compounded annually.To the nearest cent, how much interest will he earn in 2 years?

Soluzione

Dere k d e p os i t e d 7, 615 in an a cco u n t e a r nin g 10% 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 2 ye a rs ?

Soluzione

Interest : 1599.15

Fasi della soluzione

Translate the problem into an equation:

9214.15 = 7615 + I

Risolvi per

I, 9214.15 = 7615 + I : I = 1599.15

Interest : 1599.15

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