328 dollars invested at 5% for 3 years

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asked Oct 22, 2018 195k views

1 Answer

Chris Pearce · Answer 1 · 2018-10-26T08:51:51+0000

1) if it's a normal interest it gives a yearly interest of 328x0.05 =$16.4 /yearly

2) if it's a compound interest ,the final total amount will be :

A = 328(1+0.05)³ = $379.701

the interest gained ==> 379.701-328 =51.701

328 dollars invested at 5% for 3 years

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