Harry opened a savings account and deposited 200.00. The account earns 1% interest, compounded quarterly. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?

Lời Giải

Lời Giải

Amount : 206.08

Các bước giải pháp

Translate the problem into an equation:

A = 200 (1 + \frac{0.01}{4})^{4 \cdot 3}

200 (1 + \frac{0.01}{4})^{4 \cdot 3} = 206.08319 \dots

Làm tròn đến hundredth gần nhất:

206.08

Amount : 206.08

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