Question

What is the compound interest on investing $600 for 3 years at 7% per annum? ​

Answer 1

About $735.03

Explanation:

The compound interest formula is A=P(1+r/n)^nt

P is the original amount (principal)

r is the rate

n is the number of times compounded (1 for this one since it is annual)

and t is the time compounded