Answer:
The final balance is $1,193.46.
The total compound interest is $393.46.
Step-by-step explanation:
The final balance is $1,820.62.
The total compound interest is $520.62.
The compound interest on initial balance is $393.46.
The compound interest on additional deposits is $127.16.
The final balance of initial money is $1,193.46.
The final balance of additional deposit is $627.16.
The sum of the additional deposits is $500.
The total principal (initial balance plus total additional deposits) is $1,300.
Balances
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Interest with yearly comp.Add. interest with continuous comp.
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