$11,000 is invested for 6 years at an annual simple interest rate of 16%. (a) How much interest will be earned? $ (b) What is the future value of the investment at the end of the 6 years? $
$11,000 is invested for 6 years at an annual simple interest rate of 16%. (a) How much interest will be earned? $ (b) What is the future value of the investment at the end of the 6 years? $
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Question
$11,000 is invested for 6 years at an annual simple interest rate of 16%.
(a) How much interest will be earned?
$
(b) What is the future value of the investment at the end of the 6 years?
$
$
(b) What is the future value of the investment at the end of the 6 years?
$
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