- #1
Gamecubesupreme
- 12
- 0
Alright, I am learning about interest rate and stuff like that and I get it, but I seriously SUCK at word problems.
For example, here is the question:
1) On March 14, the balance in a daily interest account was $870. No deposits or withdrawals were made. The annual interest rate was 3 3/4%. Calculate the balance on June 19.
I know the general rules are:
1) Accumulated amount = Principle + I
2) A = P(1+i)
3) A = P ( 1 + t/m) ^ n*m
I don't even know how to tackle the question.
PLEASE HELP
For example, here is the question:
1) On March 14, the balance in a daily interest account was $870. No deposits or withdrawals were made. The annual interest rate was 3 3/4%. Calculate the balance on June 19.
I know the general rules are:
1) Accumulated amount = Principle + I
2) A = P(1+i)
3) A = P ( 1 + t/m) ^ n*m
I don't even know how to tackle the question.
PLEASE HELP