Asked by Anonymous

If my principal is 232 and my interest is 3% and I put the 232 dollars in the bank for 2 years ,how much money will I have at the end of the 2 years
Answered by Reiny
simple interest = 232(.03)(2) = 13.92
so you will have 245.92

at compound interest you will have 232(1.03)^2 = 246.13
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