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Popular Word Problems >

what is the compound of 15900 at 5.5 percent interest compound annually for 2 years

Solution

w ha t i s t h e co m p o u n d o f 15900 a t 5.5 p erce n t in t eres t co m p o u n d ann u a ll y f or 2 ye a rs

Solution

Interest : 1797.1

Solution steps

Translate the problem into an equation:

17697.0975 = 15900 + I

Solve for

I, 17697.0975 = 15900 + I : I = 1797.1

Interest : 1797.1

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