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13-10-2017
Mathematics

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The amount that results when $4,000 is compounded at 6% annually over seven years.

The amount that results when 4000 is compounded at 6 annually over seven years class=

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Aliwohaish12 Aliwohaish12

13-10-2017

The formula is
A=p (1+r)^t
A future value?
P present value 4000
R interest rate 0.06
T time 7 years
A=4,000×(1+0.06)^(7)
A=6,014.52

Interest earned=A-p
6,014.52−4,000=2,014.52

Hope it helps!

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