Question

How much is $23,000 worth after 10 years at 6%
annual interest?

Answer 1

Answer: $36800

Explanation:

Principal= $23000

Rate=6%

Time= 10years

Simple interest= Principal×Rate×Time / 100

= 23000×6×10 / 100

= 1380000/100

= $13800

Amount= Principal+Interest

= 23000+13800

= $36800