Debbie took out a loan from a bank at 15% interest compounded annually. After 2 years, the balance on the loan was 1,000.00. How much interest had accumulated on the loan?

Soluzione

Debbie took out a loan from a bank at 15% interest compounded annually. After 2 years, the balance on the loan was 1, 000.00. How much interest had accumulated on the loan?

Soluzione

Interest : 243.86

Fasi della soluzione

Translate the problem into an equation:

1000 = 756.14366 \dots + I

Risolvi per

I, 1000 = 756.14366 \dots + I : I = 243.86

Interest : 243.86

Esempi popolari

6 years ago, Kurt won some money in the lottery and put it in a bank account that earns 7% interest compounded monthly. If Kurt currently has 200.00 in the bank account, how much interest has he earned?the sum of the consecutive number is 35. What are the numbers?in three tosses of a die, find the probability that a 5 will appear twice?The sum of three tenths of a number and 1 When 6 is added to a certain number, the result is 19 . Determine the number.