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LUCKY_DIMON [66]
3 years ago
6

How much would $200 invested at 6% interest compounded annually be

Mathematics
1 answer:
Whitepunk [10]3 years ago
6 0

Answer:

$283.70

Step-by-step explanation:

a = p {(1  +  \frac{r}{n} )}^{nt}

Where:

a = worth

p = principal (original amount)

r = interest rate (decimal)

n = repetitions per annum (1 for yearly interest)

t = number of years

a = 200 {(1 +  \frac{0.06}{1} )}^{6}  =  \\  = 200 {(1 + 0.06)}^{6}  =  \\  = 200 {(1.06)}^{6}  =  \\  = 283.70

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