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14 April, 05:59

1000 at 6% interest for 3 years

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Answers (2)
  1. 14 April, 07:10
    0
    1,191.016

    Step-by-step explanation:

    6% in decimal form is 0.06. So for every additional year take the total times 1.06 to get the total.
  2. 14 April, 09:16
    0
    Let's say that I have $1000.00 to invest for 3 years at rate of 6% compound interest.

    M = 1000 (1 + 0.06) ^3 = $1191.16.

    My $1000.00, after 3 years, is worth $1191.16.
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