Question

Coach Cliffman made a deposit of $1,800 into an account that earns 2% annual compound interest. Find the amount of interest that Coach Cliffman earned after 3years.

Answer 1

Answer: 5508$

Explanation:

So to find interest your formula is this:

Int=interest rate (percent)*principal

So your problem would be: int=.02*1800

This equals 36. Since its interest, you add your interest (36) and your principal (1800) and get 1836. Now, since you need to find the interest for 3 years, you multiply 1836 by 3.

Explanation: