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14 January, 12:17

You invest $1000 in a 5-year savings bond that pays 8% annual interest on the principal. How much total interest will you have earned after 5 years? (Round your answer to the nearest dollar).

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  1. 14 January, 15:33
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    8% of 1000 = 80

    8% of 1080 = 86.4

    8% of 1166.4 = 93.31

    8% of 1259.71 = 100.77

    8% of 1360.48 = 108.8

    $1469.28

    Rounded: $1469
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