Question

Glenn invested $18,000 at 5% interest compounded annually. How much interest will Glenn earn in 3 years? A. $20,837.25 B. $19,826.24 C. $2340.23 D. $2837.25

Answer 1

I'm pretty sure it is D

Answer 2

Interest earned
= P((1+i)^n-1)
=18000((1+0.05)^3-1)
=18000(0.157625)
=2837.25