Miles has a square garden in his backyard. He decides to decrease the size of the garden by 1 foot on each side in order to make
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The final amount of the compound interest after 6 years would be $ 294, 122, 500
<h3>How to determine the final amount</h3>
The formula for the final amount is given as;
Where
A = final amount
P = principal interest
r = interest rate
n = number of times
t = time of periods
We have,
A =
A =
A = ×
A =$
Thus, the final amount of the compound interest after 6 years would be $ 294, 122, 500
Learn more about compound interest here:
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