Sami opens an account with a principal balance of $3,200. The
account earns 4.75% interest compounded annually. No additional
money is deposited or withdrawn from the account. Sami checks the
balance of the account at the end of 5 years. What is the amount of
interest earned at the end of 5 years?

$835.71

Step-by-step explanation:

To solve this problem, we will use the compound interest formula:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, lets change 4.75% into a decimal:

4.75% -> -> 0.0475

Now, plug the values into the equation:

Lastly, subtract A from the principal:

The interest earned is $835.71

x/3-10=8

x/3=18

x=48