Question

If the balance at the end of eight years on an investment of $196 that has been invested at a rate of 9% is $337.12, how much was the interest

Answer 1

$141.12

Explanation:

Initial investment = $196

After 8 years with 9% interest rate it becomes: $337.12

The amount of interest will be:

= $337.12 - $196

= $141.12