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19 July, 07:48

Susan deposited $10 in a savings account earning 5% interest, compounding annually. to the nearest cent, how much interest will she earn in 3 years?

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  1. 19 July, 07:59
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    A=p (1+r) ^t

    A=10 * (1+0.05) ^ (3)

    A=11.6

    Interest earned

    11.6-10=1.6
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