Question

1. $1500 earning 7% interest compounded annually for 12 years

Answer 1

$3378.3

Explanation:

P= 1500

R= 75

T= 12 years

A= P(1+R/100)^T

A= 1500(1+7/100)^12

A=1500(1.07)^12

A= $3378.3