Question

How much interest does a $9.66 investment earn at 10% over eight years?

Answer 1

Answer:

$7.73

Step-by-step explanation:

First you have to find the interest earned in one year, which is 9.66 times 0.10 = 0.966

Next, you have to multiply that product by eight years since the investment was over a span of eight years. That product equals to 7.72800, and if we are speaking in terms of money, we can round it to $7.73