mjujithandyLida
contestada

How much would $200 invested at 6% interest compounded annually be worth after 6 years? Round your answer to the nearest cent. Do not include units in your answer.

Respuesta :

A= P(1 + r)^n  
where,
A= final balance 
P= initial quantity 
n= number of compounding periods 
r= percentage interest rate 
So,
P= $200 
n= 6 years 
r= 6%= 0.06 

=$200(1 + 0.06)^6 
=$283.70
Ckaranja
Amount= [tex]p(1+ \frac{r}{100} )^{n} [/tex]
Amount= 200(1+0.06[tex] )^{6} [/tex]
Amount=200[tex] (1.06)^{6} [/tex]
Amount=283.70

Otras preguntas