Mathematics) 4751

At the beginning of the year, my father invested EUR 1,000 in the bank at an annual interest rate of 3%. How many euros will the bank credit him with the deposit after eight months? (compound interest - from financial mathematics)

Correct answer:

x =  19.9013 Eur

Step-by-step explanation:

a=1000 p=1+3/100=100103=1.03 a q12 = p a q=p1/12=121.031.0025 x=a q8a=1000 1.002581000=19.9013 Eur

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