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3 years ago

15

Nelson opened a savings account 11 years ago with a deposit of $3,115.89. The account has an interest rate of 5.3% compounded mo

nthly. How much interest has Nelson earned?

2 answers:

9966 [12]3 years ago

8 0

Answer:

2458.77

Step-by-step explanation:

3115.89*(1+0.053/12)^(11*12) - 3115.89 = 2458.77

Stels [109]3 years ago

6 0

Attached solution with detailed work using compound interest formula.

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