SOLUTION: How much would 200 invested at 6% interest compounded annually be worth it for six years round your answer to the nearest cent
Algebra.Com
Question 1082681: How much would 200 invested at 6% interest compounded annually be worth it for six years round your answer to the nearest cent
Answer by natolino_2017(77) (Show Source): You can put this solution on YOUR website!
let V(t): the value of the investment after t years.
V(t) = V(0)*(1+ 6/100)^t
V(t) = 200*(1.06)^t
V(6)= 200*(1.06)^6 = 283.70.
The answer is 283 dollars and 70 cents.
@natolino_
RELATED QUESTIONS
How much would $200 invested at 6% interest compounded annually be worth after 5 years... (answered by checkley79)
How much would $150 invested at 8% interest compounded annually be worth after 13 years?... (answered by rfer)
How much would $200 invested 7% interest compounded annually be worth after 5 years?... (answered by rfer)
How much would $120 invested at 6% interest compounded annually be worth after 21 years?... (answered by rfer)
How much would $120 invested at 6% interest compounded annually be worth after 21 years?... (answered by Alan3354)
How much would $100 invested at 6% interest compounded annually be worth after 20 years?... (answered by solver91311)
How much would $200 invested at 8% interest compounded monthly be worth after 6 years?... (answered by unlockmath)
How much would $500 invested at 7% interest compounded annually be worth after 4 years?... (answered by checkley77)
How much would $500 invested at 8% interest compounded annually be worth after 4 years?... (answered by stanbon)