Respuesta :
If the interest had been compounded annually over a 10-year period, Beatrice would have made $128.89.
Describe an interest.
Borrowing money comes with a fee known as interest. Although interest income or expense is sometimes reported as a cash sum, the interest rate used to compute interest is frequently stated as an annual percentage rate (APR).
A lender or financial institution receives remuneration in the form of interest for releasing cash. Also known as interest, a shareholder's ownership in a corporation is represented by the portion of their shares.
Calculation:
1,000 (0.05 × 10) + 1,000 = 1,500
1,000 × (1.05)^10 = 1.62889
1628.89 - 1500 = 128.89
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