Question

How much interest is earned on a principle of $838.50 invested at an interest rate of 19% for 6 years? Round to the nearest cent

Answer 1

$956

Explanation:

Interest = Principal(Rate)(Time)/100

Interest = 838.5(19)(6)/100)

Interest = $95589/100

Interest = $955.89

Interest = $956(to the nearest cent)(Answer)