nicholaskaufman519 nicholaskaufman519

29-05-2020
Mathematics

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2. Sumara Kato's savings account has a balance of $1663. After 19 years, how much interest
will she have eamed if her rate is 5.5% compounded annually?

Respuesta :

xplicifire xplicifire

29-05-2020

Answer:

Step-by-step explanation:

interest = Amount - principal

A = P(1+r)^t

r = 5.5% = 5.5/100 = 0.055

A = 1663(1+ 0.055)^19

A = 1663 (1.055)^19

A = 4,599.270812203411

Let’s say A = 4,599

interest = 4,599-1663 = 2,936

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