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Answer:
$3087.35
Step-by-step explanation:
<u>Compound interest formula</u>
where:
- A = final amount
- P = principal
- r = interest rate (in decimal form)
- n = number of times interest applied per time period
- t = number of time periods elapsed
Given:
- P = $1500
- r = 6.2% = 0.062
- n = 1
- t = 12 years
Substituting given values into the equation and solving for A:
Answer:
(-3/2, 4)
Step-by-step explanation:
mid point formula