If micheal invests $2000 in the bank at a rate of 5.5% for 6 years how much interest will he make?
2 answers:
Answer: 14,533.79 don´t take my word for it
Step-by-step explanation:
Future Value of Annuity Due
P = 2,000
r = 5.5% (0.055)
n = 6
1.055 * (2,000 * [(1 + 0.055)^6 - 1)/(0.055)])
= 14,533.79
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Step-by-step explanation:
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It would be 10 times greater im pretty sure.
A=pi(r)^2
45=pi(r)^2 divide by pi (3.14)
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