51 Views

**Damien is to invest $35000 at 7.2% for 6years with interest compounded six monthly.**

Calculate the compound interest earned on the investment

**Answer**

The answer is $53,117.40.

You do 35,000 times by 1.072 for one year then you continue until you get to six times of doing it but replace the $35000 with the previous amount

##### Virtual Teaching Assistant: John B.

##### Question Level: Basic

##### Karma: Free

##### Upload Date: 5/31/2017

This 22 words question was answered by John B. on StudySoup on 5/31/2017. The question contains content related to Math Since its upload, it has received 51 views.