Plz help due tomorrow if correct ill give brailiest
1 answer:
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Answer: The initial amount in the account = $3600
Step-by-step explanation:
Since we have given that
The amount of money in a savings account after t years is represented by the function
As we know the formula "Compound Interest" :
So, According to our question,
Rate of interest = 0.35 = 35%
So, equate the both the equations , we get that
Hence, The initial amount in the account = $3600
Answer: £122.4
Step-by-step explanation:
Given
The rate of interest is 4%
The principal invested is £1500
the time period is 2 years
Compound interest is given by
put values
Therefore, interest earned is £122.4