Find the interest earned on account balance $1030 earning 1.7% annually for 10 years

The interest earned on the account is $189.12

Step-by-step explanation:

To find the overall amount after 10 years, you need to turn the 1.7% increase into a multiplier, which is 1.017. You would then put this to the power of 10, as it is after 10 years

$1030 x 1.017^10 = $1219.12

To find only the interest earned, you need to take the original balance ($1030) from the balance after 10 years ($1219.12)

$1219.12 - $1030 = $189.12

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step-by-step explanation:

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