Question

A $1,000 investment is made for 2.5 years at 6.25%. Find the amount of interest

Answer 1

Amount of interest: $128.91

Total: $1,128.91

Explanation:

You have $1,000 in for 2.5 years with an interest rate of 6.25%. This comes out to a total of $1,128.91. I have attached a graph to illustrate.