Precision Engineering invested $110,000 at 6.5 per

jagguarpaw January 6, 2017 0 Comments

Question: Precision Engineering invested $110,000 at 6.5 per

Precision Engineering invested $110,000 at 6.5 percent interest, compounded annually for 4 years.

How much interest on interest did the company earn over this period of time?

Answer is $2,911.30 but please lease explain how to solve this problem on a BAII Plus calculator step by step. Thank you!