Question

Correct answers only please!

To the nearest cent, how much interest will she earn in 5 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

$ 15,262.76

Explanation:

A = P + I where

P (principal) = $ 7,927.00

I (interest) = $ 7,335.76