Posted by Teresa on .
pricipal is30,000 rate of interest is three and five eigth time thirty years find amount in account .show me step by step how to solve
Since you didn't say how often it was compounded, i'll assume simple interest.
Pt = Po + r*t*Po,
Pt = Amount after time t (30 years),
Po = Initial investment,
r = annual percentage rate (APR) expressed as a decimal.
Pt = 30000 + 0.03625 * 30 * 30000,
Pt = 30000 + 32625 = 62625.