Bonnie earned some money doing odd jobs last summer and put it in a savings account that earns 13% interest compounded monthly. After 10 years, there is 200.00 in the account. How much did Bonnie earn doing odd jobs?

Solution

Solution

Principal : 54.89

étapes des solutions

Translate the problem into an equation:

200 = P (1 + \frac{0.13}{12})^{12 \cdot 10}

Solutionner pour

P, 200 = P (1 + \frac{0.13}{12})^{12 \cdot 10} : P = 54.89

Principal : 54.89

Exemples populaires

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