Question

- Chris deposited $435 in a new account at his bank.

• The bank pays 1.7% interest compounded annually on this account.
• Chris makes no additional deposits or withdrawals.
How much interest will the account have earned at the end of 10 years?

Answer 1

END OF EACH YEAR

-1 442.395

-2 449.91

-3 457.56

-4 465.34

-5 473.25

-6 481.29

-7 489.481

-8 497.80

-9 506.26

-10 514.87

however, how much INTEREST

514.87-435=

79.8