To calculate the total earnings in interest after 5 years, you can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, P is the principal amount ($200 in this case), r is the annual interest rate (6% or 0.06), n is the number of times that interest is compounded per year (assuming yearly compounding here), and t is the number of years the money is invested for (5 years). Plugging in the values, we get A = 200(1 + 0.06/1)^(1*5) = 200(1.06)^5. Calculating this gives you the total amount accumulated after 5 years. Subtracting the initial deposit of $200 per year for 5 years will give you the total earnings in interest.
Copyright © 2026 eLLeNow.com All Rights Reserved.