2. Sumara Kato's savings account has a balance of $1663. After 19 years, how much interest

will she have eamed if her rate is 5.5% compounded annually?

Step-by-step explanation:

interest = Amount - principal

A = P (1+r) ^t

r = 5.5% = 5.5/100 = 0.055

A = 1663 (1 + 0.055) ^19

A = 1663 (1.055) ^19

A = 4,599.270812203411

Let's say A = 4,599

interest = 4,599-1663 = 2,936