Answer:
a. $270
b. $3,278.18
Step-by-step explanation:
Given that
The principal amount is $3,000
Annual rate of interest is 3%
And, the time period is 3 years
We need to find out the simple interest & compound interest
The following formulas should be used
a. For simple interest
= Principal × rate of interest × time period
= $3,000 × 3% × 3 years
= $270
b. For compound interest
= Principal × (1 + rate of interest)^time period
= $3,000 × (1 + 0.03)3
= $3,000 × 1.03^3
= $3,278.18
Answer:
The digit in the ten thousand place is 4 in 542,970
Step-by-step explanation:
Answer:
Joni is not correct because she used the simple interest rate formula, not the compound interest rate formula. She will have $231.53.
Step-by-step explanation:
I already took the test
Answer:
yes
Step-by-step explanation:
brainliest pls?
