choccocakee choccocakee

27-03-2020
Mathematics

contestada

FINANCE

Find the amount of compound interest (to the nearest cent) if $400 is invested for 3 months at 1% per month, compounded monthly

Please show full working out ty ;)

Respuesta :

meowmeowkitten64 meowmeowkitten64

27-03-2020

Answer:12.12

Step-by-step explanation:

100%+1%=101%/100=1.01

400 x (1.01)^3=412.12

412.12-400=12.12

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