# 3 years savings

Simple interest - Tereza has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Interest is added each year and left aside. How many CZK crowns will has total after 3 years?

Result

x =  104500 Kc

#### Solution:

$a=100000 \ \\ q=1.5/100=\dfrac{ 3 }{ 200 }=0.015 \ \\ u=a \cdot \ q=100000 \cdot \ 0.015=1500 \ \\ x=a + 3 \cdot \ u=100000 + 3 \cdot \ 1500=104500 \ \text{Kc}$

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