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What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $8.00 $16.64 $25.97 $24.00?

What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $8.00 $16.64 $25.97 $24.00?
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What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $8.00 $16.64 $25.97 $24.00?

User Protuberian
by
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1 Answer

2 votes
$24.

8% of $100 is $8.

$8 x 3 years = $24
User Anqit
by
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