Phil invested $600 at 4% compounded monthly for 6.5 years . How much interest did the investment earn?

Question

asked Jan 22, 2020 231k views

1 Answer

Raju Bera · Answer 1 · 2020-01-29T04:07:32+0000

Answer:. 15,600

Explanation:

Interest=principal x interest rate x time

Or I=prt

I= 600 x 4 x 6.5 since your principal is 600 interest rate is 4%, and it was 6.5 years. And now you multiply them to get your answer