Answer:
$545.82
Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = R/100
r = 6/100
r = 0.06 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 300.00(1 + 0.06/12)(12)(10)
A = 300.00(1 + 0.005)(120)
The total amount accrued, principal plus interest, with compound interest on a principal of $300.00 at a rate of 6% per year compounded 12 times per year over 10 years is $545.82
