Question

Correct answers only please!

To the nearest cent, how much interest will she earn in 2 years?

Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer 1

A = $ 9,257.50

A = P + I where

P (principal) = $ 7,000.00

I (interest) = $ 2,257.50

Explanation: