Basic College Mathematics (9th Edition)

Published by Pearson
ISBN 10: 0321825535
ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 456: 27

Answer

Compound Amount: 10976.01 Interest: 2547.84

Work Step by Step

Compound interest table for 4.5%, 6 years is 1.3023 $8428.17\times1.3023 = 10976.01$ (compound amount) $10976.01 - 8428.17 = 2547.84$ (interest)
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.