Ask Question
22 May, 20:06

Using the formula in model 1, choose the correct answers for the total amount and amount of interest earned in the following compound interest problem. $5,000 at 3% for 7.0 years, compounded annually.

Total Amount = $

Interest Amount = $

+2
Answers (1)
  1. 22 May, 21:13
    0
    A=5,000 * (1+0.03) ^ (7)

    A=6,149.37

    Interest earned=1149.37
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Using the formula in model 1, choose the correct answers for the total amount and amount of interest earned in the following compound ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers