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A principal of 2200 is invested at 9% interest, compounded annually. How much will the investment be worth after 6 years?

A principal of 2200 is invested at 9% interest, compounded annually. How much will the investment be worth after 6 years?
asked 209k views
16 votes
A principal of 2200 is invested at 9% interest, compounded annually. How much will the investment be worth after 6 years?

asked
User Tom Ehrlich
by
7.3k points

1 Answer

11 votes

Answer:

it would be worth 3388

Explanation:

9% of 2200 is 198

198×6=1188

1188+2200=3388

answered
User Technico
by
8.2k points
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