SOLUTION: Find the simple interest on a $1000 investment made for 2 years at an interest rate of 6%/year. What is the accumulated amount?
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Question 607711
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Find the simple interest on a $1000 investment made for 2 years at an interest rate of 6%/year. What is the accumulated amount?
Answer by
ewatrrr(24785)
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Hi
$1000 investment made for 2 years at an interest rate of 6%/year
A = 1000(1+.06)^2
A = $1123.60
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