Question

The value of an investment of $500 over t years is represented by the expression 500(1.06)t. What is the percentage of interest earned yearly for this investment?

#1. 500% #2. 106% #3. 6% #4. 0.06%

Answer 1

It is 0.6%

Explanation:

Answer 2

the answer is C. 6% i just took the assignment.