riahbear
contestada

Using the expression below, choose the correct answers for the new balance and amount of interest earned in the following compound interest problem. P(1 + r)n $1,100 at 8%, for 15 years, compounded annually.
Total Amount = $
Interest Amount = $

Respuesta :

wolf1728
Total = Principal * (1 + rate)^years
Total = 1,100 * (1.08)^15
Total = 3,489.39

janemillsappdmbyx

The total amount is 3,489.39

The Interest amount is 2,389.39



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