Question

The amount that results when $4,000 is compounded at 6% annually over seven years.

Answer 1

The formula is
A=p (1+r)^t
A future value?
P present value 4000
R interest rate 0.06
T time 7 years
A=4,000×(1+0.06)^(7)
A=6,014.52

Interest earned=A-p
6,014.52−4,000=2,014.52

Hope it helps!