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?

Result

x =  104567.84 Kc

Solution:

$a=100000 \ \\ q=1+1.5/100=\dfrac{ 203 }{ 200 }=1.015 \ \\ x=a \cdot \ q^{ 3 }=100000 \cdot \ 1.015^{ 3 }=104567.8375=104567.84 \ \text{Kc}$

Try another example

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

Showing 0 comments:

Be the first to comment!

Next similar math problems:

1. Combined interest
   Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw?
2. Shuyen
   Shuyen wanted to save some money. She deposited Php.300 in a bank which pays 0.5% interest per annum. After nine months, she needed the money to buy some gifts. How much will she be able to get if he withdraws all her money from the bank?
3. Bank
   Paul put 10000 in the bank for 6 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 3.5%, and the tax on interest is 10%.
4. Account operations
   My savings of php 90,000 in a bank earns 6% interest in a year. If i will deposit additional php 10,000 at the end of 6 months, how much money will be left if i withdraw php 25,000 after a year?
5. Population
   What is the population of the city with 3% annual growth, if in 10 years the city will have 60,000 residents?
6. Geometric progression 2
   There is geometric sequence with a₁=5.7 and quotient q=-2.5. Calculate a₁₇.
7. Enterprise
   The value of annual production enterprise is 7.1 million USD. The average annual growth rate is 1.5%. What will be value of production at the end of the fifth year?
8. BTC bubble
   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.
9. The crime
   The crime rate of a certain city is increasing by exactly 7% each year. If there were 600 crimes in the year 1990 and the crime rate remains constant each year, determine the approximate number of crimes in the year 2025.
10. Researchers
    Researchers ask 200 families whether or not they were the homeowner and how many cars they had. Their response was homeowner: 14 no car or one car, two or more cars 86, not homeowner: 38 no car or one car, two or more cars 62. What percent of the families
11. Car down
    Sarah buys a car costing $12,500. It depreciates in value by 8% in the first year, 10% the second year and 5% in the third year. Calculate the value of a car after the third year.
12. Loss
    A bookstore purchased from a publisher the biography of a well-known politician for R15 per copy, but sales have been very poor. The manager has decided to mark the copies down to R12 each to make a quick sale. Calculate the loss on each book as a percenta
13. Borrowing
    I borrow 25,000 to 6.9% p.a.. I pay 500 per month. How much will I pay and for how long?
14. Summerjob
    The temporary workers planted new trees. Of the total number of 500 seedlings, they managed to plant 426. How many percents did they meet the daily planting limit?
15. Five harvests
    In the seed company, they know that, out of 100 grains of a new variety, they get an average of 2000 grains after harvest. Approximately how many grains do they get out of 100 grains after five harvests?
16. Six terms
    Find the first six terms of the sequence a1 = -3, an = 2 * an-1
17. A perineum
    A perineum string is 10% shorter than its original string. The first string is 24, what is the 9th string or term?