Darnel has $9 in a savings account. The interest rate is 10%, compounded annually.
1 answer:
9514 1404 393
Answer:
$2.98
Step-by-step explanation:
The amount of interest earned is ...
I = P((1 +r)^t -1)
I = $9(1.1^3 -1) ≈ $2.98
Daniel will earn about $2.98 in interest in 3 years.
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