sarahmichelle55 sarahmichelle55

11-04-2018
Mathematics

contestada

If the balance at the end of eight years on an investment of $630 that has been invested at a rate of 9% is $1,083.60, how much was the interest?

Respuesta :

MsEHolt MsEHolt

21-04-2018

The interest is $453.60.

The total amount includes principal + interest. The principal was 630 and the total amount was 1083.60.
1083.60 - 630 = 453.60.

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ewomazinoade ewomazinoade

27-05-2022

The interest that is earned on the investment after 8 years is $453.60.

What is the interest?

Interest is the total amount earned in excess of the amount invested. It can be determined by subtracting the future value of the investment from the amount invested.

Interest = future value - amount invested

1083.60 - 630 = $453.60

To learn more about interest, please check: https://brainly.com/question/26164549

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