Brooke has $50 in a savings account that earns 5% interest, compounded annually. To the nearest cent, how much interest will she earn in 3 years?

Question

asked Feb 5, 2021 15.7k views

2 Answers

Messiah · Answer 1 · 2021-02-10T22:52:38+0000

Answer:

total amount= $57.88 or intrest = $7.88

Explanation:

amount= principal (1 + intrest in decimal)^time

amount = 50 (1 = .05) ^ 3

subract the principal to find the intrest.