en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

What would be the compound interest on an amount of \$17500 at a rate of 12% per annum after 2 years?

Solution

What would be the compound interest on an amount of $17500 at a rate of 12% per annum after 2 years?

Solution

Principal : 13950.89

Solution steps

Translate the problem into an equation:

17500 = P (1 + \frac{0.12}{1})^{1 \cdot 2}

Solve for

P, 17500 = P (1 + \frac{0.12}{1})^{1 \cdot 2} : P = 13950.89

Principal : 13950.89

Popular Examples

Six more than twice a certain number is two more than the number itself.:Write an equation using x to represent the number.:6.) Solve the equation for x half a number more than sixteen What is the probability of getting 5 heads out of 15 tries, flipping a coin?12 divided by a number Tim and Haley deposit 3,052.00 into a savings account which earns 7% interest compounded monthly. They want to use the money in the account to go on a trip in 2 years. How much will they be able to spend?