Respuesta :
So first of all don’t make the mistake of adding 8 11 times and then calculating the percent.
So first find the 8% of 36 and add it and keep on doing this 11 times.
But a more effective method for this is a formula the starting number(1+Percent in decimal by one )^number of years multiplied by number of times interest is compounded.
So here is a pic showing how
So first find the 8% of 36 and add it and keep on doing this 11 times.
But a more effective method for this is a formula the starting number(1+Percent in decimal by one )^number of years multiplied by number of times interest is compounded.
So here is a pic showing how
