Question

Chris deposited $1,000 into an account that earned 8% compound interest over 48 months. What is the account value earned after 48 months?

Answer 1

She would have $1080 dollars in 48 months.

Explanation:

So she earned 8% interest in 48 months.

So you find 8% of 1000 and that would be 80 and add 80 to 1000 because she gained 80 dollars in interest over 48 months so in 48 months she has $1080 dollars.