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3 years ago

8

Larry invests $100 in a savings plan. The plan pays 5 1/2% interest each year on his account balance. How much will Larry earn i

n interest after 3 years? after 5 years?

1 answer:

Lelechka [254]3 years ago

8 0

Answer:

<em> Interest after 3 years = $16.5</em>

<em>Interest after 5 years = $27.5</em>

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4 years ago

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Step-by-step explanation:

First, let's understand logarithms.

When there is no base given, like in this problem's right side of the equation, the base is automatically 10.

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Now, let's test a few of the numbers out. For brevity, I already know it's 3. Let's show you why.

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