Question

Can someone help me find an easy way to do this. I will medal.

Answer 1

@johnweldon1993 @agent0smith

Answer 2

I think you would multiply 25000 by 0.014 then add the product to 25000

Answer 3

25000 * .014 is 350. and 25000 + 350 is 25350

Answer 4

should i keep multiplying the product by .014?

Answer 5

Yep. So you would now multiply 25350 by .014 then keep going until you do it fifteen times.
There might be a quicker way to do it but I'm not sure how

Answer 6

doesn't interest percentage grow each year?

Answer 7

No. Interest is usually a fixed rate

Answer 8

okay

Answer 9

is there an easier way to do this?

Answer 10

Okay I found a formula for this.
Starting amount x interest rate x time

Answer 11

Just use the compound interest formula. \(\Large A = P\left( 1+ \frac{ r }{n} \right)^{nt}\)
http://i.stack.imgur.com/8pvNI.png

Answer 12

thanks