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:

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

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