Question

Chanelle deposits 7500 into the bank she does not withdraw or deposit money for six years she earns 6% interest during that time. How much interest will she have earned at the end of 6 years?

Answer 1

Answer:

10,200 Dollars

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.

Solving our equation:

A = 7500(1 + (0.06 × 6)) = 10200  

A = $10,200.00