3 years ago

Sumara Kato's savings account has a balance of $1663. After 19 years, how much interest

Mathematics

1 answer:

lesantik [10]3 years ago

4 0

Answer: $2936.27

Step-by-step explanation:

Present value = $1663

Rate = 5.5%

Time(n) = 19years

Future value= PV(1+r)^n

= 1663(1+5.5%)^19

= 1663(1.055)^19

=1663 × 2.766

=4599.86

Interest = Future value - Present value

= $4599 - $1663

= 2936

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