Question

15% simple and compound interest on $680 for 3 years.
Fill in Year 4 (no commas) and round to the nearest hundredth.

Answer 1

Answer Yearly Simple Interest $102.00 Balance $1088.00  Yearly Compound Interest $155.13 Balance $1189.33

Step-by-step explanation:

Simple Interest Balance $102 + $986 = $1088

Compound Interest Balance $1034.20 x 15% = $155.13 <- compound interest

$1034.20 + $155.13 = $1189.33 <- Balance