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14 September, 23:37

A principal of $3800 is invested at 6.75% interest, compounded annually. How much will the investment be worth after 6 years?

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  1. 15 September, 02:20
    0
    Your principal amount is = 3800$.

    your interest for the compound interest is equal to 0.0675/6

    and your compounding period is equal to 6.

    so now Fv=a (1+rt) ^n

    therefore

    Fv=3800 (1 + (0.0675/6)) ^6

    what ever this works out to be will be your answer.

    Fv variable just means "future value."

    The rest is self explanatory.
  2. 15 September, 02:56
    0
    4160 dollars aproximately
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