Ask Question
19 November, 22:07

If you save 3000 at an interest rate of 14 percent per year how much will you have at the end of six years

+2
Answers (1)
  1. 19 November, 22:11
    0
    The future worth, F, of a current investment, P is calculated by the equation,

    F = P x (1 + r) ^ (n-1)

    where r is the decimal equivalent of the given rate and n is the number of years. Substituting,

    F = (3000) x (1 + 0.14) ^ (6 - 1)

    F = 5776.24

    Thus, the amount after six years is approximately 5776.24.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If you save 3000 at an interest rate of 14 percent per year how much will you have at the end of six years ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers