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1 July, 17:21

how much interest is earned on a principal of $575 invested at an interest rate of 7% compounded annually for nine years?

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  1. 1 July, 17:26
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    362.25 interest is earned.

    Step-by-step explanation:

    Principal = $575

    Rate = 7%

    Time = 9 yrs

    Formula =

    I = p*r*t/100

    I = 575 * 7 * 9/100

    I = 36225/100

    I = 362.25
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