Answer:
Step-by-step explanation:
[tex]V=P\left(1+\ frac{r}{c}\right)^{ct}\\ \\ V=1600\left(1+\frac{0.024}{12}\right)^{12(30)}\\ \\ V=\$ 3284.73[/tex]
Answer:
The interest is $13824 and the amount is $15424.
Step-by-step explanation:
i did 2.4% of 1600 which is 38.4 then i took that number and multiplied it by 12 (months in a year) and got 13824
I am not sure if you are supposed to add in the original amount, and if you are, it would be 15424
Hope this helped!
