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# Compound Interest

Sineadp
Registered Posts:

**67**
Does anyone know how to work out the Compound Interest on this question? I know the formula but don't understand how to work it out.

Thank you

Thank you

0

## Comments

23Type this into a scientific calculator and press = whenever i type = (1.5 / 98.5 ) = X +1 = X to the power of (365/23) = X - 1 x 100.

The answer you should get is 27.11% rounded.

hope that made sense to you.

Let me know if not but remember BODMAS i.e. remember when to subtract and add.

6736TIA