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Find the interest due on $1,090 at 8% for 5 years.
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9 votes
9 votes
Find the interest due on $1,090 at 8% for 5 years.

User Shiva
by
2.9k points

2 Answers

8 votes
8 votes

Answer:

$1601.57, $511,57 more intrest

Explanation:

1,090*1.08^5

= 1601.5676

Round up to get 1601.57

User Msturdy
by
3.5k points
4 votes
4 votes

Interest = Principal × rate × time/100

=> 1090×8×5

= 43,600/100

=> $436

Hope it helps!

User Chris Frisina
by
3.4k points
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