Please help this is my last try on this test and it’s worth almost half of my grade if anybody who’s good at math can help me on
this question and my last 3 questions that I have that’ll be greatly appreciated:)I’m honestly very exhausted so you helping me would help way more than you know.
1 answer:
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Answer:
The interest After 6 years is $ 79.03
Step-by-step explanation:
Given as :
The principal amount deposited in account = $ 700
The rate interest earn = 1.8 % per year
The Time period = 6 years
<u>From Compounded Method </u>
Amount = Principal ×
Or, Amount = $ 700 ×
Or, Amount = $ 700 ×
Or, Amount = $ 700 × 1.1129
∴ Amount = $ 779.03
Now , Interest = Amount - Principal
I.e Interest = $ 779.03 - $ 700 = $ 79.03
Hence The interest After 6 years is $ 79.03 , Answer