What is the compund interest on 5,000 over 3 years at 5% interest

788.13 to the nearest hundredth.

Step-by-step explanation:

Let A be the total amount in the account after 3 years.

The formula is A = P (1 + x/100) ^t.

Here P = 5000, x = 5 % and the time t = 3. years.

Amount after 3 years = 5000 (1 + 5/100) ^3

= 5788.13

So the Interest is 5788.13 - 5000

= 788.13.