3 years ago

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

Mathematics

1 answer:

AleksAgata [21]3 years ago

3 0

Answer:

A= P(1 + r)^n

where,

A= final balance

P= initial quantity

n= number of compounding periods

r= percentage interest rate

So,

P= $200

n= 6 years

r= 6%= 0.06

=$200(1 + 0.06)^6

=$283.70

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