Chanelle deposits 7500 into the bank she does not withdraw or deposit money for six years she earns 6% interest during that time. How much interest will she have earned at the end of 6 years?

Question

Mia Doyle

Mathematics

2 January, 23:16

Chanelle deposits 7500 into the bank she does not withdraw or deposit money for six years she earns 6% interest during that time. How much interest will she have earned at the end of 6 years?

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Answers (1)

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Paul Mcpherson · Answer 1

10,200 Dollars

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.

Solving our equation:

A = 7500 (1 + (0.06 * 6)) = 10200

A = $10,200.00