Mathematics, 25.11.2020 05:30 cpools311
The table shows how the compound interest on an investment of $6,000 with an interest rate of 3 34%, compounded annually, grows each year for two years.
Principal ($) Interest Rate Time Interest Earned ($)
6,000.00 3 34% 1 year 6,000.00 • 0.0375 • 1
6,225.00 3 34% 1 year 6,225.00 • 0.0375 • 1
Determine the total interest earned in two years.
Answers: 2
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The table shows how the compound interest on an investment of $6,000 with an interest rate of 3 34%,...
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