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you all ways answer 1 can you answer 2. When answering be clear of what question your answering?
1 question:
Find the interest earned on an investment with a principal = $880, interest rate = 3 % per year and time = 9 months.
a. $19.80
b. $899.80
c. $237.60
d. $2,376
Now the 2 question:
Find the balance on a deposit of $455 that earns 4% interest compounded annually for 2 years.
a. $36.40
b. $491.40
c. $492.13
d. $819
1. A what u do is mutliply all of the numbers together to get the intrest. U turn the rate into a decimal like 3%= 0.03 and if the times is in years then u mutliply that bbut if its in months u have to find out what part of the year it is like 9 months= 3/4 of a year. u multiply all those and get 19.80.
2. B its the same thing as the previous question but whatever u get as the intrest u have to add it back on to the balance.
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