contestada

Eva deposited $50 in an account earning 10% interest compounded annually.
To the nearest cent, how much interest will she earn in 2 years?

Respuesta :

$ 9
Step-by-step explanation:
Simple Interest = P.R.T / 100
P= Principal (Amount invested) =$30
R= Rate= 10%
T= Time = 3 years
Therefore, Simple Interest (1):
I = PRT/100
1 = ($30 * 10 * 3 ) / 100
I = $900 / 100
1 = $9
She will have a total of $9 in three years