15.7k views
3 votes
Brooke has $50 in a savings account that earns 5% interest, compounded annually. To the nearest cent, how much interest will she earn in 3 years?

2 Answers

3 votes

Answer:

7 $ and 50 cents

Explanation:

User Benchpresser
by
5.8k points
1 vote

Answer:

total amount= $57.88 or intrest = $7.88

Explanation:

amount= principal (1 + intrest in decimal)^time

amount = 50 (1 = .05) ^ 3

subract the principal to find the intrest.

User Messiah
by
4.7k points
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