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?
66
likes332 views
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?
Bud
4.693 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.
Frequently asked questions (FAQs)
What is the derivative of sin(2x^3 + 5x^2 - 3x) with respect to x?
+
What is the ratio between the values of f(x) = 10^x and f(x) = e^x when x = 5?
+
Question: "Factor the quadratic expression 3x^2 + 8x - 16 using the distributive property."
+
New questions in Mathematics