Question

Six years ago the farmer invested $3750 at a rate of 4% per year compound interest. (i) Calculate the total value of his investment after the 6 years. Give your answer correct to the nearest dollar.

Answer 1

Answer:

amount equals to 4745 dollars approximately

step by step explanation

amount=principal(1+rate/100) whole to the power time

when solved we get is a amount as 4745 dollars approximately

if you want to find the compound interest then

compound interest equals to amount minus principal