Gabrielle inherited some money from her grandfather and put it in a bank account that earns 2% interest compounded quarterly. After 8 years, Gabrielle had 500.00 in the bank account. How much interest did she earn?

Solución

Solución

Interest : 73.76

Pasos de solución

Translate the problem into an equation:

500 = 426.24179 \dots + I

Resolver para

I, 500 = 426.24179 \dots + I : I = 73.76

Interest : 73.76

Ejemplos populares

the radius of a circle is 5in. Find its circunferencia in terms of pi Determine the simple interest earned on 10,000 after 10 years if the APR is 7%.If a store offers a 15% discount on an item, and the original price is 80, what is the final price after the discount?The radio of a circle is 14 m. Find its area in terms of pipi.Jocelyn invested 390 in an account paying an interest rate of 2.7% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 18 years?