SOLUTION: Today is Michaela’s birthday. She received a total of $2000 cash as presents from her friends and family. She wants to invest this money and decided on a fixed term bank deposit

Question 1201577: Today is Michaela’s birthday. She received a total of $2000 cash as presents from her friends and family. She wants to invest this money and decided on a fixed term bank deposit for six years at an annual compounded interest rate of 16%. Calculate the value of her investment at the end of year six.
Answer by Glaviolette(140) (Show Source): You can put this solution on YOUR website!

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