194,413 views
37 votes
37 votes
$2900 at 13% for 30 years. i need simple interest and compounding interest

User Rambles
by
2.6k points

2 Answers

22 votes
22 votes

Answer:

113436.1041

Explanation:

2900 ( 1 +0.13 ) ^ 30

Formula : amount ( 1 + percentage ) ^ years

User Benjamin Curtis
by
2.9k points
26 votes
26 votes

Answer:

Explanation:

simple:

2900(1+.13*30)=14210

Compounding


2900(1+.13)^(30)=113436.1041

User Ghada
by
2.8k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.