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500 at 18% interest for two year?

 Jan 29, 2016
 #1
avatar+8581 
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500 at 18% interest for two year?

 

Would you do....

500 * 18% / 2?

I'm not good with these type of questions.. :/

 Jan 29, 2016
 #2
avatar+2499 
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if you mean 18 % in a year:

 

500*1.18^2 = 696.2

 

Answer: 696.2

 Jan 29, 2016
 #3
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+5

500 at 18% interest for two year?

 

FV=500(1.18)^2=$696.2

 Jan 29, 2016

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