future amount = i(1 + r)^t\ni = 30 r = 0.20 t = 3\nfirst, plug the value of i into the equation.\nfuture…
future amount = i(1 + r)^t\ni = 30 r = 0.20 t = 3\nfirst, plug the value of i into the equation.\nfuture amount = ?(1 + )^
Answer
Explanation:
Step1: Substitute I value
Substitute $I = 30$ into the formula. Future Amount $=30(1 + r)^{t}$
Step2: Substitute r value
Substitute $r = 0.20$ into the formula. Future Amount $=30(1 + 0.20)^{t}$
Step3: Substitute t value
Substitute $t = 3$ into the formula. Future Amount $=30(1 + 0.20)^{3}$
Answer:
Future Amount $=30(1 + 0.20)^{3}$