Mary has $6,000 saved for her college education. She invested that money at 2.3% interest per year. Suppose her account earned interest compounded annually. How much interest would she earn in 3 years?
Mary has $6,000 saved for her college education. She invested that money at 2.3% interest per year. Suppose her account earned interest compounded annually. How much interest would she earn in 3 years?
Interest= $423.59
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $6,000
Number of periods (n)= 3 years
Interest rate (i)= 2.3% = 0.023
To calculate the Future Value, we need to use the following formula:
FV= PV*(1+i)^n
FV= 6,000*(1.023^3)
FV= $6,423.59
Now, the interest earned:
Interest= 6,423.59 - 6,000
Interest= $423.59
answer: 16
step-by-step explanation: first you would add 6+6 which equals 12 then add 2+2 which equals 4. then add 12 + 4 which is 16.
hope this ^_^
[tex]What is the area of the trapezoid shown?[/tex]
the answer is 175.4379
step-by-step explanation: