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Populaire Word Problems >

Billy deposited 5,000 in an account earning 1% interest compounded annually.To the nearest cent, how much interest will he earn in 1 year?

Solution

B i ll y d e p os i t e d 5, 000 in an a cco u n t e a r nin g 1% in t eres t co m p o u n d e d ann u a ll y . T o t h e n e a res t ce n t, h o w m u c h in t eres t w i ll h e e a r n in 1 ye a r ?

Solution

Interest : 50

étapes des solutions

Translate the problem into an equation:

5050 = 5000 + I

Solutionner pour

I, 5050 = 5000 + I : I = 50

Interest : 50

Exemples populaires

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