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Percentages

Tom deposits $10000 in a bank. The interest is compounded half-yearly. After one year, he receives an amount of $10609.
a) Find the annual interest rate.
b) If Tom deposits the amount for one more year, find the total interest that he will get.

解答 0

  • eric
    2019-10-01 20:48:24
    a. Solve 10000(1+r/2)^2=10609, where r is the rate in question
  • Kms
    2019-10-01 20:50:33
    a) 10000(1+(r/2))^2=10609, find r b) 10000(1+(r/2))^4 (use result of r in(a))
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