2 years ago

1000 at 6% interest for 3 years

Mathematics

2 answers:

postnew [5]2 years ago

8 0

Answer:

1,191.016

Step-by-step explanation:

6% in decimal form is 0.06. So for every additional year take the total times 1.06 to get the total.

viktelen [127]2 years ago

4 0

Answer:

Let's say that I have $1000.00 to invest for 3 years at rate of 6% compound interest.

M = 1000 (1 + 0.06)^3 = $1191.16.

My $1000.00, after 3 years, is worth $1191.16.

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