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Beliebt Word Problems >

Suppose that 17,000 is deposited for eight years at 5% APR. Calculate the interest earned if interest is compounded weekly. Round your answer to the nearest cent.

Lösung

S u pp ose t ha t 17, 000 i s d e p os i t e d f or e i g h t ye a rs a t 5% A PR . C a l c u l a t e t h e in t eres t e a r n e d i f in t eres t i s co m p o u n d e d w ee k l y . R o u n d yo u r an s w er t o t h e n e a res t ce n t .

Lösung

Interest : 8356.15

Schritte zur Lösung

Translate the problem into an equation:

25356.14633 \dots = 17000 + I

Löse nach

I, 25356.14633 \dots = 17000 + I : I = 8356.15

Interest : 8356.15

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