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20 April, 17:25

James decided to open a basic savings account he put 1000.00 dollars in his account. the account earns 5% interest he earns 50 dollers in the first mouth. his new balance mouth. what is the interest type?

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  1. 20 April, 18:26
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    M = C * (1+i) ^t

    M = 1000 * (1+0,05) ¹

    M = 1000*1,05

    M = 1050 (earns $ 50)

    se t = 2 meses:

    M = 1000 * (1+0,05) ²

    M = 1000 * (1,005) ²

    M = 1.102,50

    Sistema de juros compostos - juros sobre juros.
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