Lori opened a savings account five years ago. Her initial investment was $2,000. Today, she decided to close the account by withdrawing all of the money in her account. The total balance was $3,125.

The total amount of interest compounded over the five years was $1,125.

Question

Lori opened a savings account five years ago. Her initial investment was $2,000. Today, she decided to close the account by withdrawing all of the money in her account. The total balance was $3,125.
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The total amount of interest compounded over the five years was $1,125.​

Quizplus · Accepted Answer

The total amount of interest earned is found by subtracting the initial investment ($2,000) from the final amount ($3,125), which equals $1,125.

Lori Opened a Savings Account Five Years Ago