Question

You deposit a capital of $1,000,000 in a bank, within a period of 5 months, applying a monthly interest rate of 5%. The accumulated interest is:

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Answer to a math question You deposit a capital of $1,000,000 in a bank, within a period of 5 months, applying a monthly interest rate of 5%. The accumulated interest is:

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Rasheed
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105 Answers
1. Calcular el monto total usando el interés compuesto:
A = P \times (1 + r)^{t}
donde:
- P = 1,000,000
- r = 0.05
- t = 5

2. Sustituir los valores en la fórmula:
A = 1,000,000 \times (1 + 0.05)^{5}
A = 1,000,000 \times 1.2762815625
A = 1,276,281.5625

3. Calcular el interés acumulado restando el capital inicial:
I = A - P
I = 1,276,281.5625 - 1,000,000
I = 276,281.5625

Respuesta:
I = 276,281.5625

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