Question

Complete the table to determine the balance A for P dollars invested at rate r for t years and compounded n times per year.

P = $ 1500, r = 2%,  t = 10 years

Answer 1

Step 1:

The principal amount $ .

The rate of interest .

The period of time years.

Using compound interest formula  amount .

Compounded times per year.

The total amount is .

Compounded times per year, then the amount

Compounded times per year, then the amount

Step 2:

Compounded times per year, then the amount

Compounded times per year, then the amount