Mathematics for IGCSE & O level - Percentages (Section 6 - No. 9)
Selena invests $4000 and receives 5% interest a year which is added to the amount each year. What is her investment worth in total after 6 years?
$5000
$5360.38
$5300
$5500
Explicació
Using the compound interest formula: A = P(1 + r/100)^n. A = 4000(1 + 5/100)^6 = $5360.38 (to the nearest cent).