Bank

Paul put 11000 in the bank for 2 years. Calculate how much you will have in the bank if he does not pick earned interest or change deposit conditions. The annual interest rate is 2.8%, and the tax on interest is 18%.

Final Answer:

x =  11510.9

Step-by-step explanation:

$$\begin{gathered} r_1=2.8\%=\frac{2.8}{100}=0.028 \\ {r}_2=100\%-18\%=1-\frac{18}{100}=0.82 \\ q=1+r_1\cdot r_2=1+0.028\cdot 0.82\doteq 1.023 \\ x=11000\cdot q^2=11000\cdot 1.023^2=11510.9 \end{gathered}$$

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