MaybeTØP
MaybeTØP MaybeTØP
  • 11-09-2019
  • Mathematics
contestada

Find the total amount. $3600 at 6.5% compounded annually for 2 years.

Respuesta :

Casey82680
Casey82680 Casey82680
  • 11-09-2019

Answer:

$4083.21

Step-by-step explanation:

Compound interest is an interest rate that stacks on top of each other

So basically I did 3600 × 1.065 for the first year

=3834

then i did 3834 × 1.065 again to calculate the second year

=4083.21

Hope this helps! If you have any questions ask! :)

Answer Link
homegondal6 homegondal6
  • 26-03-2020

Answer:

D. $4083.21

Step-by-step explanation:

Answer Link

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