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?

Correct result:

x =  100951.58 Kc

Solution:

a=100000 Kc q=1+1.5/100=203200=1.015 d=20.12.5.5. d=229 d  x=a qd/360=100000 1.015229/360=100951.58 Kc=1.0105 Kc



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