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Find the amount of compound interest earned from the following investment:

$6000 at 9% p.a for 4 years, compounded anually.

 May 18, 2014

Best Answer 

 #1
avatar+33654 
+10

The final value here is given by

finalvalue=6000×(1+0.09)4finalvalue=8469.48966

So final value = $8469.49

So the interest earned is 

8469.496000=2469.49 dollars

 May 18, 2014
 #1
avatar+33654 
+10
Best Answer

The final value here is given by

finalvalue=6000×(1+0.09)4finalvalue=8469.48966

So final value = $8469.49

So the interest earned is 

8469.496000=2469.49 dollars

Alan May 18, 2014
 #2
avatar+43 
+5

Thanks

 May 18, 2014

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