Answer:
p=15
Step-by-step explanation:
The answer depends on what type of interest. If you are using compound interest, then the interest is different every year, as the amount you earn goes up because the amount you have in the bank goes up. Simple interest is the opposite, as you earn one amount each year, and it does not change.
So.....
Simple Interest:
0.12 * 150 = 18
18 * 8 = 144
144 + 150 = $294
Compound Interest:
150(1 + 0.12)^8
150 * 1.12^8
150 * 2.475 = $371
Answer:
Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one
Step-by-step explanation:
i just did it
Positive: 690
Negative: -30