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3 years ago

A principal of $3800 is invested at 3.75% Interest, compounded annually. How much will the investment be worth after 6 years?

Mathematics

1 answer:

IgorLugansk [536]3 years ago

5 0

Answer:

Step-by-step explanation:

Simple interest formula: i = prt

i = interest

p = principle amount

r = rate

t = time (in years)

Substitute the numbers given in the problem.

i = $3800x0.0375x6

i = $855

In order to find the total investment, add the interest ($855) to the principle amount ($8500)

$855 + $8500 = $9355

If you need more help in this problem, please comment down below.

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1,134. :DD Hope I helped!

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