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Cecilia has $800 in an account earning 4.5% simple interest. How much more interest would her account earn in 7 years with annually compounded interest ?

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asked Jul 28, 2021 128k views

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Cecilia has $800 in an account earning 4.5% simple interest. How much more interest would her account earn in 7 years with annually compounded interest ?

Mathematics
middle-school

Donghua Liu asked

by Donghua Liu

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Answer:

Interest in her account after 7 years= $800x(4.5/100)x7=$252

Explanation:

Nalexn answered Aug 3, 2021

Cecilia has $800 in an account earning 4.5% simple interest. How much more interest would her account earn in 7 years with annually compounded interest ?

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