Question

$2900 at 13% for 30 years. i need simple interest and compounding interest

Answer 1

113436.1041

Explanation:

2900 ( 1 +0.13 ) ^ 30

Formula : amount ( 1 + percentage ) ^ years

Answer 2

Explanation:

simple:

2900(1+.13*30)=14210

Compounding

`2900(1+.13)^(30)=113436.1041`