Question

Carol invests $6250 at a rate of 2% per year compound interest. Calculate the total amount carol after 3 years

Answer 1

Answer:What a coincidence I was doing the same question. Ok so you should know about the Compound Interest formula which is A=P(1+r/100) n. (n) is btw in the exponent.

A= ?

P=6250

r=2

n=3

  Anyways we will input everything we are given so it will be:

A=6250(1+2/100)3

  Since A is final amount - it will be our answer which is  $6,632.55

Answer 2

Answer:

6%

Step-by-step explanation: