What would be the value of $150 after eight years if you earn 12 percent interest per year? $371.39 $415.96 $465.88

$371.39

Step-by-step explanation:

The formula to calculate the compound amount after t years is given by :-

, where P is the principle amount and  r is the rate of interest.

Given: Principle amount =$150

The rate of interest = 12%=0.12

Now, the amount compounded after 8 years will be:-

Hence, the value of $150 after eight years if you earn 12 percent interest per year would be $371.39.

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step-by-step explanation: