Question

$1200 at 12% for 3 years

Answer 1

Answer:

$1,689.

Step-by-step explanation:

Answer 2

Answer:

If this is compound interest and it is compouned annually,the answer is $1,685.91

If this is simple interest, the answer is $1,632.00

Step-by-step explanation:

Equation for compound interest.

$A=P(1+\frac{r}{n})^{n*t}$

$A=1200(1+\frac{0.12}{1})^{1*3}$

$A=1685.91$

Equation for simple interest.

$A=P(1+r*t)$

$A=1200(1+0.08*3)$

$A=1632.00$