Answer:
Compound interest, or 'interest on interest', is calculated using the compound interest formula.
The formula for compound interest is A = P(1 + r/n)^nt, where P is the principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.
Step-by-step explanation:
Answer:
$13.65
Step-by-step explanation:
<u><em>8.50 being popcorn</em></u>
<u><em>4.50 being soda</em></u>
<u><em>0.05 being the 5%</em></u>
Soda + Popcorn = 13
13×0.05 = 0.65
13 + 0.65 = 13.65
Hope this helps.
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