Question

1b. Zoey deposited $1325 into an account that earns
33% compounded interest, compounded annually.
Determine how much interest she will earn after 72
months.

Answer 1

Answer:

She will have earned 6,008.74 JUST in interest after 72 months

Step-by-step explanation

72 months/12 months = 6 years

33% interest

Principal: $1,325

No additional $

Plug it into compound interest formula and the total is $7,333.74

I subtracted the initial investment to see how much interest was earned.