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Step 1) P = 600, Decimal format: 0.04, Balance = 624

Step 2) Principle = 624, Balance = 648.96

Step 3) Principle = 648.96, Balance = 674.92

Step-by-step explanation:

Use the formula of A = P(1 + r/n)^n*t

P = 600, r = 4%, n = 1, t = 1 years.

Plug in

A = 600(1 + 0.04/1)^1*1

A = 600 * 1.04^1

A = 600 * 1.04

A = 624

To find the seperate interest

A = P + I

624 = 600 + I

I = 624 - 600

I = 24

Repeat for Step 2

P = 624, r = 4%, n = 1, t = 1

A = 624(1 + 0.04/1)^1*1

A = 624 * 1.04^1

A = 624 * 1.04

A = 648.96

Repeat for interest

648.96 = 624 + I

I = 648.96 - 624

I = 24.96

Repeat for step 3

A = 648.96, r = 4%, n = 1, t = 1

A = 648.96(1 + 0.04/1)^1*1

A = 648.96 * 1.04^1

A = 648.96 * 1.04

A = 674.92

Interest repeat

674.92 = 648.96 + I

I = 674.92 - 648.96

I = 25.96

step-by-step explanation:

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