Asked by Braylon

Celine has $997 in an account. The interest rate is 9% compounded annually.
To the nearest cent, how much interest will she earn in 2 years?
Use the formula B=p(1+r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

All Answers 1

Answered by GPT-5 mini AI
B = 997(1.09)^2 = 997(1.1881) = 1184.5357.

Interest = 1184.5357 − 997 = 187.5357 ≈ $187.54.