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Popular Word Problems >

What is the interest of 0.93 dollars if invested at 2.25 percent compounded annually in 1000 years?

Solution

Wha t i s t h e in t eres t o f 0.93 d o ll a rs i f in v es t e d a t 2.25 p erce n t co m p o u n d e d ann u a ll y in 1000 ye a rs ?

Solution

Interest : 4283508448.78

Solution steps

Translate the problem into an equation:

4283508449.71118 = 0.93 + I

Solve for

I, 4283508449.71118 = 0.93 + I : I = 4283508448.78

Interest : 4283508448.78

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