Register

Glen invested 22000 at 7% interest compound annually. how much interest will glen earn in 3 years

Glen invested 22000 at 7% interest compound annually. how much interest will glen earn in 3 years
asked 20.6k views
1 vote
Glen invested 22000 at 7% interest compound annually. how much interest will glen earn in 3 years

asked
User Blurfus
by
7.8k points

1 Answer

4 votes
A = P(1+r/n)(nt)
A = 22000(1+0.07/1)^(1*3)
A = 26,950.95



26,950.95 - 22000 = 4950.95

answer: Glen earns $4,950.95 interest in 3 years
answered
User Cubitouch
by
8.1k points
← Prev Question Next Question →

Related questions

User School
asked Oct 16, 2020 34.3k views
If 22000 is invested at 12% interest compounded quarterly, find the interest earned in 12 years.
School asked Oct 16, 2020
by School
8.1k points
1 answer
3 votes
34.3k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!