Question

$1,500 at 7% compounded annually for 3 years

Find the amount of interest.

Answer 1

Answer:

1,500 of 7% compounded annually for 3 years

P = $1,500

R = $0.07

N = $1

T = $3

A = $1,500(1+0.07) 1.3

= $1,837.56

Step-by-step explanation: