Find the interest to the nearest cent if $925 earns 6.25% interest annually for 18 months.
fv = pv ( 1 + i)n pv = 925 i = .0625 (this is 6.25% in decimal) n = 1.5 ( 18 months is 1.5 years)
fv = 925 (1 .0625)1.5= ~~1013.06 dollars
925e^6.25% times 18 925e^9/8 925 times 3.080216849 2849.200585 2849.20