Fernando opened a savings account and deposited 300.00. The account earns 1% interest, compounded annually. If he wants to use the money to buy a new bicycle in 2 years, how much will he be able to spend on the bike?

Lời Giải

Lời Giải

Amount : 306.03

Các bước giải pháp

Translate the problem into an equation:

A = 300 (1 + \frac{0.01}{1})^{1 \cdot 2}

300 (1 + \frac{0.01}{1})^{1 \cdot 2} = 306.03

Amount : 306.03

Ví dụ phổ biến

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