Check the picture below tell me if you understand what I did.
Answer:
Step-by-step explanation:
the formula used for any interest other then continuously is
A=P(1+r/n)^nt
so... r=rate in decimal form ONLY n=how often interest is paid t=time passed
A=3000(1+.08/1)^(1)(5) = annually
A=3000(1+.08/2)^(2)(5)
A=3000(1+.08/4)^(4)(5)
use you calculator to get the answer
it is good practice to use your calculator now because soon you will be using it for population questions and those need to be entered very carefully.
