Kari inherited some money from her grandfather and put it in a bank account that earns 8% interest compounded monthly. After 10 years, Kari had 1,000.00 in the bank account. How much interest did she earn?

Solução

Kari inherited some money from her grandfather and put it in a bank account that earns 8% interest compounded monthly. After 10 years, Kari had 1, 000.00 in the bank account. How much interest did she earn?

Solução

Interest : 549.48

Passos da solução

Translate the problem into an equation:

1000 = 450.52346 \dots + I

Resolver para

I, 1000 = 450.52346 \dots + I : I = 549.48

Interest : 549.48

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