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Find the total amount. $3600 at 6.5% compounded annually for 2 years.

User Tinamou
by
6.6k points

2 Answers

0 votes

Answer:

D. $4083.21

Explanation:

User Eric Winterstine
by
6.8k points
2 votes

Answer:

$4083.21

Explanation:

Compound interest is an interest rate that stacks on top of each other

So basically I did 3600 × 1.065 for the first year

=3834

then i did 3834 × 1.065 again to calculate the second year

=4083.21

Hope this helps! If you have any questions ask! :)

User Gal Blank
by
6.2k points