# 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:

$a=100000 \ \text{Kc} \ \\ q=1+1.5/100=\dfrac{ 203 }{ 200 }=1.015 \ \\ d=20.12. - 5.5. \ \\ d=229 \ \text{d} \ \\ \ \\ x=a \cdot \ q^{ d/360 }=100000 \cdot \ 1.015^{ 229/360 }=100951.58 \ \text{Kc}$

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