I think the rate of interest is 14 hope this helps
Because if you divide 880 by 63 you would just keep 14 without adding
Answer:
FV= $21,887.13
Explanation:
Giving the following information:
Initial investment= $15,000
Number of periods= 6 years
Interest rate= 6.5% compounded annually
T<u>o calculate the future value of the investment, we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 15,000*(1.065^6)
FV= $21,887.13