Correct answers only please!
2 answers:
Answer:
interest - $55,000
Step-by-step explanation:
$100,000 principal
11% interest rate (need to use 0.11)
? interest
5 years time
i = prt
= 100,000(.11)(5)
interest earned is $55,000
total money in account is $155,000
Answer:
$55000
Step-by-step explanation:
Using the given formula :
I = P × R × T
I = 100000 × 11/100 × 5
I = $55000
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