Ask a New Question
Search
Find the interest earned on $15,000,invested for 6yrs at 4% interest compounded annually
1 answer
amount after 6 yrs
= 15000(1.04)^6
subtract the original 15000 from that to get the interest earned.
Ask a New Question
or
answer this question
.
Similar Questions
Question
$1000 is invested at 8% interest compounded annually. $80 in interest is earned in the first year. Knowing that compound
1 answer
$1000 is invested at 8% interest compounded annually. $80 in interest is earned in the first year. Knowing that compound
1 answer
$1000 is invested at 8% interest compounded annually. $80 in interest is earned in the first year. Knowing that compound
1 answer
find the difference in financial gains when $3200 is invested for eight years with an interest rate of 4.5% for both simple
1 answer
more similar questions