3 years savings

Simple interest problem. Tereza has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Interest is added each year and left aside. How many CZK (crowns) will you have in total after three years?

Correct answer:

x =  104500 Kc

Step-by-step explanation:

$$\begin{gathered} a=100000 \\ q=1.5/100=\frac{3}{200}=0.015 \\ u=a\cdot q=100000\cdot 0.015=1500 \\ x=a+3\cdot u=100000+3\cdot 1500=104500\text{Kc} \end{gathered}$$

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