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Sagot :
Part (a)
I'll assume the interest compounds annually.
A = P*(1+r/n)^(n*t)
A = 15000*(1+0.04/1)^(1*2)
A = 16,224
Answer: $16,224
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Part (b)
Subtract the result of part (a) and the original deposit amount to find the interest earned.
interest = A - P = 16,224 - 15,000 = 1,224
Answer: $1,224
Answer:
The final balance is $16,236.48.
The total compound interest is $1,236.48
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