Question

If you have to invest in an account that pays 5.3 compound annually, after 10 years how much interest is earned

Answer 1

• Rate=5.3 per year
• Time=10

$\\ \sf\longmapsto Interest=Rate\times Time$

$\\ \sf\longmapsto Interest=5.3(10)$

$\\ \sf\longmapsto Interest =53$

It means that if your principal is $100 after 10years you will receive $53 as interest

Answer 2

Step-by-step explanation:

$thank \: you$