So i believe you need to round the whole number, if so than 8 * 3 = 24 and 20 * 3 = 60
First, convert R percent to r a decimal
r = R/100
r = 7%/100
r = 0.07 per year,
Then, solve our equation for A
A = P(1 + r/n)nt
A = 200.00(1 + 0.005833333/12)(12)(5)
A = $ 283.53
Summary:
The total amount accrued, principal plus interest,
from compound interest on an original principal of
$ 200.00 at a rate of 7% per year
compounded 12 times per year
over 5 years is $ 283.53.
Answer:
c
Step-by-step explanation:
