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Mathematics

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

Answer :

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Answer:

Step-by-step explanation:

This sounds like compound interest.

[tex]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[/tex]

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A=$2360.00

Hope this helps

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