How much would $200 invested at 7% interest compounded annually be

worth after 5 years? Round your answer to the nearest cent.

use the Compound Amount formula:

A = P (1 + r) ^t, where P is the principal, r is the interest rate as a decimal fraction, and t is the number of years

Here, A = $200 (1 + 0.07) ^5 = $500 (1.07) ^5 = $280.51.

The interest earned would be $80.51