Question

A principal of ​$6000 is invested in an account paying an annual rate of 5​%. Find the amount in the account after 3 years if the account is compounded​ semiannually, quarterly, and monthly.

Answer 1

principal=$6000

rate=5%

time=3 years

first find interest

interest=P*T*R/100

=$6000*3*5/100

=$900

so to find amout use formula ,

Amount=principal+Interest

=$6000+$900

=$6900

Explanation:

Therefore Amount=$6900

Answer 2

Answer = Is this the correct answer $18900

Explanation: