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Beliebt Word Problems >

If 11,000 is invested at 8% interest compounded quarterly, find the interest earned in 10 years

Lösung

I f ​11, 000 i s in v es t e d a t 8​% in t eres t co m p o u n d e d q u a r t er l y ​, f in d t h e in t eres t e a r n e d in 10 ye a rs

Lösung

Interest : 13288.44

Schritte zur Lösung

Translate the problem into an equation:

24288.43629 \dots = 11000 + I

Löse nach

I, 24288.43629 \dots = 11000 + I : I = 13288.44

Interest : 13288.44

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