Question

Please answer quickly! I’m so confused and I have no idea what to do! I will mark brainliest!

Answer 1

Since this problem is compound interest, the formula would be:
500×(1.03)^20 = 903.056

Answer 2

We can use the I=P(1+RT) formula here.

I = 500(1+(0.03)(20))

I= 500(1.6)

I = $800