V is going to equal 5/8
Answer:
The total amount is 1214.4
Step-by-step explanation:
Given
principal p=$1200
interest rate r= 12%= 12/100= 0.12
time t= 1
n= 12
we know that the compound interest formula is
A=p(1+r/n )^nt
A=1200(1+0.12/12)^1*12
A=1200(1+0.01)^12
A=1200(1.001)^12
A=1200*1.012
A=1214.
the answer is $37.60
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