Question

Find the future amount at the end of three years for a $2000 investment that earns 6% at the end of each year

Answer 1

Answer:

Step-by-step explanation:

This sounds like compound interest.

$A=P(1+r)^t\\ \\ A=2000(1.06)^3\\ \\ A=\ 2382.03\\ \\ \text{If simple interest}\\ \\ A=P(1+rt)\\ \\ A=2000(1.18)\\ \\ A=\ 2360.00$

Answer 2

A=$2360.00

Hope this helps