Question

Diane invests $ 500 for 6 years at an annual interest rate of 4% compounded annually.

What is the amount of this investment after 6 years

Answer 1

120

Step-by-step explanation:

Interest = P*r*t

I = ?

P = 500

r = 4%; 4/100 = 0.04

t = 6

I = 500(0.04)(6)

I = 120