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2. Find the amount of compound interest earned when $5,000 is invested at 3% for 5 years when compounded annually.

2. Find the amount of compound interest earned when $5,000 is invested at 3% for 5 years when compounded annually.
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1 vote
2. Find the amount of compound interest earned when $5,000 is invested at 3% for 5 years when

compounded annually.

asked
User Andreas Baus
by
7.1k points

1 Answer

6 votes
The compound interest earned when $5,000 is invested at 3% for 5 years would be $808.08
answered
User Jnanaranjan
by
7.3k points
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