Question

HALLLPPP I RLLY NEED UR HELLLPP PLSSSS!!!

(And pls explain how exactly you got your answer thank you so much!)

Find the Compound Interest.

Principal: 1,000
Interest Rate: 3%
Time: 3 years

Answer 1

92.727

Explanation:

The formula for compound interest is
`P((1+i)^(t) -1)`, where P is the principal amount, i is the interest rate and t is the time. Sub your values into this formula to find your answer.

1000((1+0.03)³-1)

1000(1.03³-1)

1000(1.092727-1)

92.727

1000(0.092727)