Answer:
I believe the answer would 25 hope this helps
Step-by-step explanation:
Answer:
It should be option B
Step-by-step explanation:
106 is the answer to this question
Answer:
Interest earned = 2713.8
Explanation:
We will solve this problem on two steps:
1- get the final amount after three years
2- get the interest earned by subtracting the initial amount from the final one.
1- getting the final amount after 3 years:
The formula that we will use is as follows:
A = P (1 + r/n)^(nt)
where:
A is the final amount we want to calculate
P is the initial amount = 6300
r is the interest = 0.12
n is the number of compounds per year =12
t is time in years = 3
Substitute to get the final amount:
A = P (1 + r/n)^(nt)
A = 6300 (1 + 0.12/12) ^ (12*3)
A = 9013.8
2- getting the interest earned:
Interest earned = final amount - initial amount
Interest earned = 9013.8 - 6300
Interest earned = 2713.8
Hope this helps :)
Answer:
$292.50
Step-by-step explanation:
Equation - A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 2.5%/100 = 0.025 per year.
Solving our equation:
A = 260(1 + (0.025 × 5)) = 292.5
A = $292.50
The total amount accrued, principal plus interest, from simple interest on a principal of $260.00 at a rate of 2.5% per year for 5 years is $292.50.
