Using the chart, find the total amount and amount of interest paid in the following compound interest problems. $3,000 at 8% for 5 years.

The total amount paid was $3,828.85 and the amount of interest paid was $828.85

Step-by-step explanation:

The compound interest formula is given by:

Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

In this problem, we have that:

Total amount

Interest paid

A - P = 3,828.85 - 3,000 = 828.85

The total amount paid was $3,828.85 and the amount of interest paid was $828.85

33

step-by-step explanation: g=6