Question

if the balance at the end of eight years on an investment of $630 that has been invested at a rate of 9% is $1083.60, how much was the interest?

Answer 1

Answer: The interest is $453.60.

The total amount includes principal + interest. The principal was 630 and the total amount was 1083.60.

1083.60 - 630 = 453.60.

Explanation: