SOLUTION: If you deposited $2500 at 5% for 6 years compounded annually, what is you total amount? What is your interest amount?

SOLUTION: If you deposited $2500 at 5% for 6 years compounded annually, what is you total amount? What is your interest amount?

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Question 716964: If you deposited $2500 at 5% for 6 years compounded annually, what is you total amount? What is your interest amount?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=2500(1.05)^6
FV=$3350.24
interest
3350.24-2500=$850.24
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