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: 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) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi

$1000 investment made for 2 years at an interest rate of 6%/year

 A = 1000(1+.06)^2

 A = $1123.60