Can someone please tell me if these are correct?
2 answers:
You might be interested in
as the following pic you can see the answer.
#diameter is 8 so radius is 4
Answer:
Interest in 3 years = $456.52
Step-by-step explanation:
As we know the the formula of compound interest
Total amount =
Here n = number of times amount is compounded
r = rate of interest
t = period
Here A = $2500
r = 0.0575
n = 1 (compounded annually)
t = 3 years
Therefore amount after 3 years
P =2500(1.0575)³
= 2500×1.18
= $2956.52
We have to calculate the interest then
Interest = $2956.52-$2500 = $456.52
So after 3 years interest gained = $456.52