alaadeana70213 alaadeana70213

15-02-2021
Mathematics

contestada

If micheal invests $2000 in the bank at a rate of 5.5% for 6 years how much interest will he make?

help me plz

Respuesta :

Аноним Аноним

15-02-2021

Answer: 14,533.79 don´t take my word for it

Step-by-step explanation:

Answer Link

alisha7594 alisha7594

15-02-2021

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

Answer Link

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