Solution
400.00 into an account to use for school expenses. The account earns 15% interest, compounded annually. How much will be in the account after 8 years?
Solution
Solution steps
Translate the problem into an equation:
Round to the nearest hundredth:
Popular Examples
find three consecutive whole numbers with a sum of 150Mackenzie opened a savings account and deposited 1,074.00 as principal. The account earns 11% interest, compounded quarterly. What is the balance after 7 years?One number is two more than another. Their sum is 4Elsa took out a 2-year loan to buy a car at a 6% simple interest rate. If she has to pay 264 in interest, how much principal did she borrow?number retta 2/3 , 5/3