Ask Question
9 June, 20:15

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?

+4
Answers (1)
  1. 9 June, 20:43
    0
    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
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “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% ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers