Question

PLSSSS HALLPP!!! DUE TODAY!!! PLS AND THANK YOU!!

Find the Compound Interest

Principal: 100
Interest Rate: 0.4%
Time: 1 year

Answer 1

$100.4

Explanation:

Compound Interest Formula:

A = P
`(`1 +
`(r)/(100)`
`)^(t)`

=> A = 100 x ( 1 +
`(0.4)/(100)`)^1 = 100.4 (If they asked ... interest rate ... per year, if not then depends - most likely to be days and therefore you will need to change 1 year = 365 days and you will also need to change 1 in the formula above to 365, then you will get the right ans)