Question

If you have to invest in an account that pays 5.3 compound annually, after 10 years how much interest is earned

Answer 1

• Rate=5.3 per year
• Time=10

`\\ \sf\longmapsto Interest=Rate* Time`

`\\ \sf\longmapsto Interest=5.3(10)`

`\\ \sf\longmapsto Interest =53`

It means that if your principal is $100 after 10years you will receive $53 as interest

Answer 2

Explanation:

`thank \: you`