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Gabby opened a savings account and deposited 500.00 as principal. The account earns 3% interest, compounded quarterly. How much interest will she earn after 7 years? write three decimals

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解答

Gabbyopenedasavingsaccountanddeposited500.00asprincipal.Theaccountearns3%interest,compoundedquarterly.Howmuchinterestwillsheearnafter7years?writethreedecimals

解答

Interest:116.36
求解步骤
Translate the problem into an equation:616.35587…=500+I
求解 I,616.35587…=500+I:I=116.36
Interest:116.36

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