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when sara was 15 years old an uncle left her as inheritancea a sum of 10 000 euros which he invested in a bank that applie

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When Sara was 15 years old, an uncle left her as inheritanceà a sum of 10,000 euros which he invested in a bank that applies the interest rate of 2,5% annual. Today Sara is 18 years and wants to buy a'car, how much she can ò withdraw from the bank?

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Answer to a math question When Sara was 15 years old, an uncle left her as inheritanceà a sum of 10,000 euros which he invested in a bank that applies the interest rate of 2,5% annual. Today Sara is 18 years and wants to buy a'car, how much she can ò withdraw from the bank?

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85 Answers

To find out how much Sara can withdraw from the bank, we need to calculate the amount of money she would have after 3 years with the given interest rate.

The formula to calculate the future value of an investment with compound interest is:

FV = P(1 + r)^n

Where:

FV

is the future value of the investment

P

is the principal amount (initial investment)

r

is the interest rate per period

n

is the number of periods

In this case, the principal amount (

P

) is 10,000 euros, the interest rate (

r

) is 2.5% or 0.025 as a decimal, and the number of periods (

n

) is 3 years.

Plugging these values into the formula, we get:

FV = 10,000(1 + 0.025)^3

Now let's calculate this:

FV = 10,000(1.025)^3

FV = 10,000(1.07689)

FV = 10,768.90

Therefore, Sara can withdraw 10,768.90 euros from the bank.

Answer: Sara can withdraw 10,768.90 euros from the bank.

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