Question

Find the interest due on $1,090 at 8% for 5 years.

Answer 1

$1601.57, $511,57 more intrest

Explanation:

1,090*1.08^5

= 1601.5676

Round up to get 1601.57

Answer 2

Interest = Principal × rate × time/100

=> 1090×8×5

= 43,600/100

=> $436

Hope it helps!