Question

Jim just deposited $13,000 into his account at Traditions Bank. The bank will pay 1.3 percent interest, compounded annually, on this account. How much interest on interest will he earn over the next 15 years?

Answer 1

the bank will add 2,535 on Jim money after 15 years.

Step-by-step explanation:

P=13,000

T=15 years

R=1.3%

I=?

now let's Calculate

I=P*R*T/100

=13,000*15*1.3/100

now it's equal to 2,535