Find the interest earned on 45,000 at 14% for 8 years

Question

asked Oct 27, 2021 81.6k views

2 Answers

Samuel Taylor · Answer 1 · 2021-11-01T09:04:32+0000

Answer:

$128366.39

Explanation:

We will use the Simplified Compound Interest Equation:

P = C(1 + r)^t

P = 45000(1+0.14)^8

P = 45000(1.14)^8

P = 128366.389

So about $128366.39