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Find the interest on a Principal Balance of $5,000 over the course of 15 years with an interest rate of 3.25% compounded monthly. Round to 2 decimal places
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Find the interest on a Principal Balance of $5,000 over the course of 15 years with an interest rate of 3.25% compounded monthly. Round to 2 decimal places

User Stakolee
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8.2k points

1 Answer

5 votes
C.I=P(R divided 100)^t-P
The answer is 26406.25
User Biswapriyo
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