$500 is invested at 4.3% annual interest for 18 months. a. Simple Interest b. Compound Interest

Question

asked May 14, 2022 143k views

1 Answer

Carlo Pecchia · Answer 1 · 2022-05-21T09:52:56+0000

Answer:

a. $532.25 b. $1247.40

Explanation:

a. A=P(1+rt)

500(1+0.043*1.5)

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

500(1+0.043/1.5)^18*1.5

(not 100% sure on compound interest though, sorry )