Question

Tricia invested $8500 at 3% interest compounded annually. How much interest will she earn in 3 years?

Answer 1

need help

Answer 2

@just_one_last_goodbye

Answer 3

@dmezzullo

Answer 4

Here is the annually compounded interest formula:

\(\bf\Large Interest~compounded=P(1 + \frac{r}{n})^{nt}\)

Where:
P is the principal investment amount
r is the annual interest rate in decimals
n is the number of times it is compounded
t is the number of years it is compounded for