Find the discount or interest to the nearest cent.?

Question

1. $500 at 0.3% a month for 15 months
2. $250 at 8 1/2% annually for 2 years

Answer 1

1. 500 (1+.003)^15 = $522.98, thus interest is $22.98

2. 250(1+.085)^2 = $294.31, thus interest is $44.31

Answer 2

first I recomend a good calculator, because it is all you need to get this answer.

answer to question 1 based on compound interest and rounding as you go is 522.97
answer to question 2 based on compound interest is 294.31