SOLUTION: helga invested $1000 at 5% interest rate, compounded anually. how much interest had helga earned by the end of the sixth year?

SOLUTION: helga invested $1000 at 5% interest rate, compounded anually. how much interest had helga earned by the end of the sixth year?

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Question 209094: helga invested $1000 at 5% interest rate, compounded anually. how much interest had helga earned by the end of the sixth year?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
1,000(1+.05)^6
1,000*1.05^6
1,000*1.34=1,340 or the interest earned was $340.
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