4 years ago

How much is $23,000 worth after 10 years at 6% annual interest?

Mathematics

1 answer:

Zepler [3.9K]4 years ago

3 0

Answer: $36800

Step-by-step explanation:

Principal= $23000

Rate=6%

Time= 10years

Simple interest= Principal×Rate×Time / 100

= 23000×6×10 / 100

= 1380000/100

= $13800

Amount= Principal+Interest

= 23000+13800

= $36800

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