Answer:
The amount is $1269.74 and the interest is $269.74.
Step-by-step explanation:
STEP 1: To find amount we use formula:
AAAA=1000(1+0.1212)12⋅2=1000⋅1.0124=1000⋅1.269735=1269.74
STEP 2: To find interest we use formula A=P+I, since A=1269.74 and P = 1000 we have:
A1269.74II=P+I=1000+I=1269.74−1000=269.74
