Answer:
$14916
$19876.8
Explanation:
I don't know if it is dimple interest or compound so I will answer in both. (Mostly simple interests are used). Also in compound interest, we use n instead of t so I guess it is simple interest.
To find the simple interest, we have to use the formula Interest= (Prt)/100
Plug in the values:
I= (13200×6.5×2)/100 (assuming monthly interest)
I= $1716
This is not our final answer as we need the amount so we will add the interest with the amount.
Amount= 13200+1716= $14916
Now for compound interest, we have to use the formula:
Amount= P(1+(r/100))^n
Plug in the values:
A= 13200(1+(6.5/100))^6.5
A= $19876.8