lesley2334 lesley2334

14-05-2021
Mathematics

contestada

Darnel has $9 in a savings account. The interest rate is 10%, compounded annually.
To the nearest cent, how much interest will he earn in 3 years?

Respuesta :

sqdancefan sqdancefan

15-05-2021

9514 1404 393

Answer:

$2.98

Step-by-step explanation:

The amount of interest earned is ...

I = P((1 +r)^t -1)

I = $9(1.1^3 -1) ≈ $2.98

Daniel will earn about $2.98 in interest in 3 years.

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