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Популярное Word Problems >

Nolan inherited some money from his grandfather and put it in a bank account that earns 9% interest compounded quarterly. After 5 years, Nolan had 800.00 in the bank account. How much interest did he earn?

Решение

N o l an inh er i t e d so m e m o n ey f ro m hi s g r an df a t h er an d p u t i t in a bank a cco u n t t ha t e a r n s 9% in t eres t co m p o u n d e d q u a r t er l y . A f t er 5 ye a rs, N o l an ha d 800.00 in t h e bank a cco u n t . Ho w m u c h in t eres t d i d h e e a r n ?

Решение

Interest : 287.35

Шаги решения

Translate the problem into an equation:

800 = 512.65317 \dots + I

Решите для

I, 800 = 512.65317 \dots + I : I = 287.35

Interest : 287.35

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