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

Calculate the compound interest earned on the investment

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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.

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