Question

If your initial principal is $243 and your principal in 2 years is $1,359.19, how much interest did you earn?

Answer 1

Answer: $1,116.19

Explanation:

If you invested $243 and this increased to $1,359.19 in two years, the difference between your investment and its current worth is the interest:

= Current principal - Initial principal

= 1,359.19 - 243

= $1,116.19