Question

Brooke has $50 in a savings account that earns 5% interest, compounded annually. To the nearest cent, how much interest will she earn in 3 years?

Answer 1

Answer:

7 $ and 50 cents

Step-by-step explanation:

Answer 2

Answer:

total amount= $57.88 or intrest = $7.88

Step-by-step explanation:

amount= principal (1 + intrest in decimal)^time

amount = 50 (1 = .05) ^ 3

subract the principal to find the intrest.