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LenaWriter [7]
3 years ago
11

May someone help me on this please what amount will I put for B?

Mathematics
1 answer:
Alborosie3 years ago
6 0
P = $2000,  Rate, r = 6% = 0.06 per year, Time, t = 5 years.

For compound interest compounded annually:

A) Amount, A = P(1 + r)^t

A = 2000(1 + 0.06)⁵

A = 2000(1.06)⁵ ≈  2676.45

Amount ≈ $2676.45

<span>B) Interest = Amount - Principal </span>

                 = 2676.45 - 2000 = 676.45

<span>Interest ≈ $676.45<span> </span></span>
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