Which equation represents a line that passes through the two points in the
1 answer:
You might be interested in
The formula to find the amount is
Here A = amount
P is the principal
r is the rate
n is the number of years
Then to find the interest we subtract principal from amount.
Interest = A - P
Here
P= 2200, r = 3% = 0.03 , n = 6 years
Hence the interest earned = 2626.92-2200 = $426.92
Now if the total of $2200 was deposited in three banks then each account earns
Each account earns $142.31