Step-by-step explanation:
Principle times rate times time
Principle equals 100. Rate equals 3.0%.Time equals 25 years. Then divide by hundred
Answer:
211.50
Step-by-step explanation:
Use the compound interest formula and substitute the given values:
A= $100( 1+0.03/12)^12(25)
Simplify using the order of operations:
A=$100( 1.0025)^300= $100(2.115019558)= $211.50
