Question

Hazel invests $1800 for 7 years at a rate of 1.5% per year compound interest.
Calculate how much interest she will receive after the 7 years.
Give your answer correct to the nearest dollar.

Answer 1

Answer:

1600 and it is a nearest dollar

Answer 2

Answer:

198

Explanation:

1800 x (1 + 1.5/100)^7 - 1800

= 197.720

= 198 (answer rounded to the nearest decimal)