Answer:
equation; P=A(1+r/n)^nt
P=principal amount
A=value of investment
r= interest rate in decimals
n=number of times compounded
t=time in years
P=1000(1+0.16/12)^12(5)= $2213.8 rounded
Step-by-step explanation:
Answer:
102
You didn't ask for work and I shall respect your wish
Answer:
$15348
Step-by-step explanation:
i = prt is the simple interest equation
i = 12,000(0.031) = 372
i = 372*9 = 3348
12000+3348 = $15348