SOLUTION: p is 900 r is 5% and t is 3 years. what is the compound interest?

Question 127251:
p is 900 r is 5% and t is 3 years. what is the compound interest?

Found 2 solutions by checkley71, aseem:
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
p(1+r)^t-p is the interest.
900(1+.05)^3-900
900(1.05)^3-900
900*1.1576-900
1041.86-900
$141.86 is the interest.
Answer by aseem(9) (Show Source): You can put this solution on YOUR website!
p=900 r=5%
in compound interest time is always taken 1 year.. so,
900*5*1/100
this will give you 45 as answer of c.i
and amount 900+45-945 answer
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