Respuesta :

Answer:

A = $2,779.16

Step-by-step explanation:

A = $2,779.16

A = P + I where

P (principal) = $1,778.00

I (interest) = $1,001.16

First, convert R as a percent to r as a decimal

r = R/100

r = 3/100

r = 0.03 rate per year,

Then solve the equation for A

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

A = 1,778.00(1 + 0.03/2)^(2)(15)

A = 1,778.00(1 + 0.015)^(30)

A = $2,779.16

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $1,778.00 at a rate of 3% per year compounded 2 times per year over 15 years is $2,779.16.

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