Register
How much compound interest is earned on $15,750 principal, with an annual interest rate of 2% compounded annually, over 3.5 years? compound interest: A = P (1 + r)t A. $1130.34 B. $16,852.50 C. $1102.50
56.6k views
0 votes
How much compound interest is earned on $15,750 principal, with an annual interest rate of 2% compounded annually, over 3.5 years?

compound interest: A = P (1 + r)t



A.
$1130.34


B.
$16,852.50


C.
$1102.50


D.
$16,889.06

User Phodina
by
7.1k points

1 Answer

2 votes
well if you multiply the original amount by .02 then times it by 3.5 and add that to the original amount, then that is your answer:
15,750x0.02=315
315x3.5=1102.50
15,750+1102.50=16,852.5
User Aubergine
by
7.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.4m questions

11.0m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!