Question

Anna deposited $10,000 into an account three years ago. The first year she earned 12 percent interest, the second year she earned 8 percent interest, and the third year she earned 4 percent interest. How much money does she have in her account today?

Answer 1

$12579.84

Explanation:

Anna deposited $10,000 into an account three years ago.

The first year she earned 12 percent interest

Interest = 12% of 10000 =
`(12)/(100) * 10000=1200`

Amount at the end of first year = 10000+1200 = 11200

The second year she earned 8 percent interest

Interest = 8% of 11200 =
`(8)/(100) * 11200=896`

Amount at the end of second year = 11200+896 = 12096

The third year she earned 4 percent interest.

Interest = 4% of 12096 =
`(4)/(100) * 12096=483.84`

Amount at the end of third year = 12096+483.84 = 12579.84

Hence she have $12579.84 in her account today