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Morgarella [4.7K]
3 years ago
6

Does 0.06 * 1,000 equal 60

Mathematics
1 answer:
Dafna1 [17]3 years ago
5 0
.06 * 1000 = 600 if you move the decimal over to the right by as many zeroes there are, you'll get the correct answer.
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The formula for compound interest is

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A= 1030(1+\frac{.04}{2})^{(2)(2)}  \\\\A= 1030(1+0.02)^{4} \\A=1030(1.02)^4\\A=1114.905125

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