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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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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4.690 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
P
r
n
In this case, the principal amount (P r n
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.
The formula to calculate the future value of an investment with compound interest is:
Where:
In this case, the principal amount (
Plugging these values into the formula, we get:
Now let's calculate this:
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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