Sum of money

On a certain sum of money, invested at the rate of 10% compounded annually, the difference between the interests of the first year and the third year is 315 . Find the sum.

Result

x =  1363.636

Solution:


(1.1^3-1)*x -0.1x = 315

0.231x = 315

x = 15000/11 ≈ 1363.636364

Calculated by our simple equation calculator.







Leave us a comment of example and its solution (i.e. if it is still somewhat unclear...):

Showing 0 comments:
1st comment
Be the first to comment!
avatar




To solve this example are needed these knowledge from mathematics:

Next similar examples:

  1. Enterprise
    podniky_socik The value of annual production enterprise is 7.1 million USD. The average annual growth rate is 2.4%. What will be value of production at the end of the fifth year?
  2. Bank
    money_3 Paul put 10000 in the bank for 5 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 2.4%, and the tax on interest is 11%.
  3. BTC bubble
    btc_2 One of the world's experts in bubbles -- Prof. Robert Shiller, a Yale economist -- said Bitcoin "was an amazing example of a bubble" back in 2014. If you exchange fiat US dollar $100 to BTC in 2010, now in 2017 have value of 72.9 millions dollars. Find.
  4. Reward
    percents_4 Three workers have shared a common reward 13110 CZK follows: first worker got 35% less than the second and third worker got 20% more than the second worker. How much got each worker?
  5. Loans, loan ...
    peniazky In Slovakia, launched a short-term non-bank loans, of which few people have their "take" are considered unfavorable. Often, the borrower ends up in a spiral of debt, which takes more and more onerous loan used to repay earlier loans. Calculate how many 4-
  6. Electricity consumption cost
    Temelin4veze1 Last year Karol family reduced its electricity consumption by 31% compared to the previous year and paid CZK 2883 less. How many CZK is electricity last year and how many two year ago?
  7. Machine
    machine Price of the new machine is € 56000. Every year is depreciated 16% of residual value. What will be the value of the machine after 5 years?
  8. Dividing money
    penize_33 Thomas, Honza and Vasek are to divide 1220kč. Honza got 25% more than Thomas. Vasek 20% less than Thomas. How CZK each got?
  9. Six terms
    sequence_geo_3 Find the first six terms of the sequence a1 = -3, an = 2 * an-1
  10. Geometric sequence 5
    sequence About members of geometric sequence we know: ? ? Calculate a1 (first member) and q (common ratio or q-coefficient)
  11. The city
    city_1 At the end of 2010 the city had 529000 residents. The population increased by 1.1% each year. What is the population at the end of 2013?
  12. Pine
    trees How much of a mixed forest rangers want to cut down, if their head said: "We only cut down pine trees, which in our mixed forest 96%. After cut pine trees constitute 91% of all trees left."
  13. Reducing number
    123 Reducing the an unknown number by 28.5% we get number 243.1. Determine unknown number.
  14. Coefficient
    gp Determine the coefficient of this sequence: 7.2; 2.4; 0.8
  15. Geometric progression 2
    exp_x There is geometric sequence with a1=-5.8 and quotient q=-2.2. Calculate a19.