P = 300 $; r = 0.06; t = 20; n = 1
A = P ( 1 + r/n)^n*t
= 300 ( 1 + 0.06) ²⁰
= 300 ( 1.06) ²⁰
= 962.14
Answer:
$962.10
Step-by-step explanation:
[tex]a = p {(1 + \frac{r}{100} )}^{n} [/tex]
a = amount
p = principal
r = interest rate
n = number of years
a = 300[1+6/100]^20
= 300(1.06)^20
= 300(3.207)(4s.f)
= 962.10
