You invest $6,000 at 3.5% interest compounded annually. How much will your investment be worth in 5 years? *

Question

asked Mar 6, 2021 181k views

1 Answer

Rebekka · Answer 1 · 2021-03-12T18:29:38+0000

Answer:

$7,126.12

Explanation:

Final investment value

$7,126.12

Total interest earned

$1,126.12

Initial balance

$6,000.00

Total monthly deposits

$0.00

Effective Annual Rate (APY)

3.5%

compounded annually