Question

$300 invested with compound interest at a rate of 25% per year for 8 years.

Answer 1

$1,788.14

Step-by-step explanation:

The applicable formula A= P ( 1+ r)^2

Where A is the amount after 8 years

P = principal amount: $300

r = interest rate: 25% or 0.25

n =number of period :8

A= $300 x ( 1+ 0.25) ^ 8

A=$300 x 5.9604644

A= $1,788.139

A=$1,788.14

Amount after 8 years =$1,788.14