Question

You put $300 in a bank account at the end of every year for 15 years. The account earns 4% interest. How much do you have total at the end of 15 years?​

Answer 1

principal=300₹

rate=4%

time=15

simple intrest is

p×r×t/100

300×4×15/100

=180

amount is principal+intrest

300+180

=480