Question

Find the Interest Earned.

Answer 1

A=p(1+i/m)^mn
Interest earned
I=A-p

A=980×(1+0.08÷4)^(4×5)
A=1,456.23

I=1,456.23−980
I=476.23

A=7,200×(1+0.04)^(8)
A=9,853.69

I=9,853.69−7,200
I=2,653.69

A=15,520×(1+0.06÷2)^(2×4)
A=19,660.27

I=19,660.27−15,520
I=4,140.27