8029.35
$4,061.04
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
3 percent of 6000 is 180.
29% of 6000= 29% * 6000= 0.29 * 6000= 1740
8029.35
$4,061.04
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
74 or 75 years
6000 + (8.75 percent) = 6,525
3 percent of 6000 is 180.
29% of 6000= 29% * 6000= 0.29 * 6000= 1740
1 percent of 6000 dollars = 60 dollars.
change 60 to a percent = 6000%60 * 100% = 6000%
12% of 6000= 12% * 6000= 0.12 * 6000= 720
2% of 6000 = 2% * 6000 = 0.02 * 6000 = 120
It is: 13.5% of 6000 = 810