Interest on $2630 at 3% compounded annually for five years is?

Question

asked Jun 2, 2018 49.3k views

1 Answer

BostonJohn · Answer 1 · 2018-06-08T21:42:36+0000

Compound interest formula:
P(1+APR/n)^(ny)

*2630(1+.03/12)^(12•5)=180676

To find Interest:
180676(12)(5)=183306

183306-2630=180676 -interest paid

Hope this helped!!

Interest on $2630 at 3% compounded annually for five years is?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Categories

Other Questions