Question

For the investment with interest compounded annually, find the final balance and the total interest earned.



$500 for 2 years at 8%









A.

final balance: $540
interest earned: $40








B.

final balance: $580
interest earned: $80








C.

final balance: $583.20
interest earned: $83.20








D.

final balance: $620
interest earned: $120

Answer 1

C. final balance: $583.20
interest earned: $83.20

Answer 2

thanks

Answer 3

\(\huge\ddot\smile\) Anytime.