en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Determine the amount of compound interest earned if 1,500 is invested at an interest rate of 3.25% compounded annually for 8 years.

Solution

De t er min e t h e am o u n t o f co m p o u n d in t eres t e a r n e d i f 1, 500 i s in v es t e d a t an in t eres t r a t e o f 3.25% co m p o u n d e d ann u a ll y f or 8 ye a rs .

Solution

Interest : 437.37

Solution steps

Translate the problem into an equation:

1937.36630 \dots = 1500 + I

Solve for

I, 1937.36630 \dots = 1500 + I : I = 437.37

Interest : 437.37

Popular Examples

The diameter of a circle is 22 m. Find its area Aaron is 5 years younger than Ron. Four years later, Ron will be twice as old as Aaron. Find their present ages.A video game was marked down by 20% off the original price if the sales price is 48.50 what was the original price The difference of two numbers is 36 . Their sum is 154. What are the numbers?192 is 96% of what number?