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3. To the nearest cent, how much interest will he earn in 3 years? Dan has $50 in a savings account . The interest rate is 10%, compounded annually. To the nearest cent, how much interest will he earn
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3. To the nearest cent, how much interest will he earn in 3 years? Dan has $50 in a savings account . The interest rate is 10%, compounded annually. To the nearest cent, how much interest will he earn in 3 years?

User ConsultUtah
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7.1k points

1 Answer

4 votes

50×(0.10)×3

= 0.05 or 5%

User Gunit
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6.8k points
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