Practice
Solve each problem and see the calculation step by step.
Simple interest
0/0You invest $2,000.00 at 3% annual simple interest for 4 years. Calculate the interest earned (I).
Round to 2 decimal places.
Compound interest
0/0You invest $5,000.00 at 3% annual interest, compounded monthly, for 10 years. Calculate the interest earned (I).
Round to 2 decimal places.