en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Rachel deposited 10 in an account earning 5% interest compounded annually.To the nearest cent, how much interest will she earn in 3 years?

Solution

R a c h e l d e p os i t e d 10 in an a cco u n t e a r nin g 5% 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 s h e e a r n in 3 ye a rs ?

Solution

Interest : 1.58

Solution steps

Translate the problem into an equation:

11.57625 = 10 + I

Solve for

I, 11.57625 = 10 + I : I = 1.58

Interest : 1.58

Popular Examples

If a gorilla doll that costs 3.50 from the supplier is marked up 42%, what is the selling price?find the probability of getting a number less than 6 when a dice is thrown What fraction will each person get if 8 friends share 5 apples equally?Enter your answer in the boxes.9 more than the quotient of a number and 7 equals 4 Swimsuits are sold at a reduced price of 39.99 after a markdown of 45% off the original price. Find the original selling price.