You deposit $500,000 in a higher risk investment. Three years later, you receive $711,900 and withdraw your funds. Given this information calculate the interest earned at the end of year 3.
A) $77,096
B) $78,806
C) $79,096
D) $80,806
E) $81,096

Question

Quizplus · Accepted Answer

The interest earned is calculated by subtracting the initial investment from the final amount: $711,900 - $500,000 = $211,900.

You Deposit $500,000 in a Higher Risk Investment