Marcus deposited 3000 into an account that earns 4 1/2 % annually compounded interest. Calculate the interest Marcus will earn after 6 years and his total balance.

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asked May 16, 2021 214k views

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Marcus deposited 3000 into an account that earns 4 1/2 % annually compounded interest. Calculate the interest Marcus will earn after 6 years and his total balance.

Mathematics
high-school

Chatuur asked

by Chatuur

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He would earn $906.78 in interest that has compounded (compound interest) in a time period of six years.

Guilherme Crozariol answered May 22, 2021

by Guilherme Crozariol

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