Grandparents 81106

The grandparents had €2,500 in the bank valued at 2% p.a. After the quarter, and they took the money with the evaluation. How much money was it? The bank honored the fee for early withdrawal in the amount of 0.05% of the deposited amount.

Correct answer:

x =  2511.24 eur

Step-by-step explanation:

$$\begin{gathered} p=2\%=\frac{2}{100}=\frac{1}{50}=0.02 \\ r=1+p\cdot \frac{1}{4}=1+\frac{1}{50}\cdot \frac{1}{4}=\frac{201}{200}=1.005 \\ q=100\%-0.05\%=1-\frac{0.05}{100}=0.9995 \\ {x}_0=2500\text{eur} \\ {x}_1=r\cdot x_0=\frac{201}{200}\cdot 2500=\frac{201\cdot 2500}{200}=\frac{502500}{200}=\frac{5025}{2}=2512.5 \\ x=q\cdot x_1=0.9995\cdot 2512.5=2511.24\text{eur} \end{gathered}$$

Try another example