If you invest $100 at an interest rate of 6%, how much money will you have after two years?

Question

asked Mar 10, 2023 106k views

2 Answers

Karel Debedts · Answer 1 · 2023-03-15T17:00:07+0000

Answer:A=P(1+rt)

P=Principle/100

R=Rate/6%

T=Time/2 years

Explanation:

Initial Deposit 100$

Years saved 2

Rate of return 6%

Compound frequency monthly

Earned interest 12.00$

100+12.72=112.00$