Question

1. Find the amount and the compound interest, if the interest is compounded yearly. a) * 300 at 3% per annum for 2 years.​

Answer 1

Answer:

okk

Step-by-step explanation:

Answer 2

Step-by-step explanation:

A = 318.53

A = P + I where

P (principal) = 300.00

I (interest) = 18.53

First, convert R as a percent to r as a decimal

r = R/100

r = 3/100

r = 0.03 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 300.00(1 + 0.03/12)(12)(2)

A = 300.00(1 + 0.0025)(24)

A = 318.53