Final answer:
The interest earned is $14,400 and the future value of the investment at the end of 6 years is $30,400.
Step-by-step explanation:
To calculate the amount of interest earned, we can use the formula:
Interest = Principal × Rate × Time
Plugging in the given values:
Interest = $16,000 × 0.15 × 6
= $14,400
Therefore, the interest earned is $14,400.
To calculate the future value of the investment, we can use the formula:
Future Value = Principal + Interest
Plugging in the given values:
Future Value = $16,000 + $14,400
= $30,400
Therefore, the future value of the investment at the end of 6 years is $30,400.