Question

If micheal invests $2000 in the bank at a rate of 5.5% for 6 years how much interest will he make?

help me plz

Answer 1

Answer: 14,533.79 don´t take my word for it

Explanation:

Answer 2

Future Value of Annuity Due

P = 2,000

r = 5.5% (0.055)

n = 6

1.055 * (2,000 * [(1 + 0.055)^6 - 1)/(0.055)])

= 14,533.79