Question

$500 is invested at 4.3% annual interest for 18 months.

a. Simple Interest b. Compound Interest

Answer 1

a. $532.25 b. $1247.40

Explanation:

a. A=P(1+rt)

500(1+0.043*1.5)

b.A=P(1+r/n)^nt

500(1+0.043/1.5)^18*1.5

(not 100% sure on compound interest though, sorry )