Compound interest

Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years?

Correct result:

x =  104567.84 Kc

Solution:

a=100000 q=1+1.5/100=203200=1.015 x=a q3=100000 1.0153=104567.84 Kc



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