Question

Phil invested $600 at 4% compounded monthly for 6.5 years . How much interest did the investment earn?

Answer 1

Answer:. 15,600

Explanation:

Interest=principal x interest rate x time

Or I=prt

I= 600 x 4 x 6.5 since your principal is 600 interest rate is 4%, and it was 6.5 years. And now you multiply them to get your answer