Solve and describe how u did it- Prt=formula. $780, 2 3/4%, 3mths.?

Question

Urgent!

Answer 1

If profit/ 1month, then:
780 *(2.75)/100 = 21.45 the profit in the first month
780 + 21.45 = 801.45 the total cash in the first month.

In the second month, there will be a profit on this:
801.45 *(2.75)/100 = 22.04
801.45 + 22.04 = 823.49 the total cash after the 2nd month.

at the end of the thirs month, there will be a profit of:
823.49*(2.75)/100 = 22.65
823.49 + 22.65 = 846.14 the total cash after the 3rd month.
this is the answer.

But if you mean that the profit is / year,then
2.75 profit for 12 months, so how much is the profit for 3 months?
it is 2.75 *3 / 12 = 0.6875 %

so 780 *(0.6875) / 100 = 5.36
so the total cash is 780 + 5.36 = 785.36

Now if the profit is / month, but it is not being included in the total cash with the initial amount, and this is the one i think that you want, then 2.75 / month means 8.25 / 3months

so the profit is 780 *8.25/100 = 64.35

so the total cash is 780+ 64.35 = 844.35

Answer 2

If you use Pe^(rt)...

=780*e^((.0275/12)*(3))
=780*e^(.006875)
=780*1.006899
=785.38

Answer 3

What is the period of the interest rate (annual, etc) and how often is it compounded? That matters a lot.