Answer:
$2000x(1.03)ˣ
Step-by-step explanation:
This is known as compound interest.
100% + 3% = 103%, so we put this into a decimal: 1.03
We now put this into the equation:
$2000x(1.03)ˣ
If you want to work out the price after, say 3 years, then you would change x to 3, so the equation becomes
$2000x(1.03)³
You can then use a calculator to work out the answer.
Answer:
$2,880
Step-by-step explanation:
interest = (principal * rate * time)/100
= (15000 * 3.2 * 6)/ 100
= 2880
Answer:
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Step-by-step explanation:
