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8 September, 23:32

Glen invested 22000 at 7% interest compound annually. how much interest will glen earn in 3 years

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  1. 8 September, 23:39
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    A = P (1+r/n) (nt)

    A = 22000 (1+0.07/1) ^ (1*3)

    A = 26,950.95

    26,950.95 - 22000 = 4950.95

    answer: Glen earns $4,950.95 interest in 3 years
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