Question

Boris invests $280 for 2 years at a rate of 3% per year compound interest. Calculate the interest Boris receives at the end of the 2 years. Give your answer correct to 2 decimal places.

Answer 1

$8.46 is the interest 288.46 is the total

Explanation:

use the compound interest formula and use that to get the exact answer including the decimal places

Answer 2

140

Explanation:

280 divided by 2 + 140