Question

Find the interest earned on 45,000 at 14% for 8 years​

Answer 1

simple

Explanation:

45000×14×8/100

5040000/100

=50400

Answer 2

$128366.39

Explanation:

We will use the Simplified Compound Interest Equation:

P = C(1 + r)^t

P = 45000(1+0.14)^8

P = 45000(1.14)^8

P = 128366.389

So about $128366.39