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3 years ago

find the amount at compound interest that #600 would be at 3% the end of the first year, 2% at the end of the second year

Mathematics

1 answer:

zaharov [31]3 years ago

4 0

Step-by-step explanation:

First we find the interest at the end of the first year.

Principal = #600

Rate = 3%

Time = 1 year

Interest = $\frac{600 * 3 * 1}{100}$

= #18

Amount = #618 at the end of the first year

Now at the end of the second year.

Principal now = #618

Rate now = 2%

Time = 1 year

Interest = $\frac{618 * 2 * 1}{100}$

= #12.36

Amount = #630.36 at the end of the second year

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Answer:

Step-by-step explanation:

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find the amount at compound interest that #600 would be at 3% the end of the first year, 2% at the end of the second year​

find the amount at compound interest that #600 would be at 3% the end of the first year, 2% at the end of the second year