Answer :
To solve this (assuming that you mean simple interest) you need to first know the formula for exponential growth witch is S(1+(-)I)[tex] ^{T} [/tex] so with all of are numbers inputed it looks something like this 800(1+.0425)[tex] ^{6} [/tex] because,
S=starting amount, I=interest rate, and T=Time (amount of time that goes by)
back to the equation it would equal 1027 (rounded to the nearest dollar)
Enjoy!=)
S=starting amount, I=interest rate, and T=Time (amount of time that goes by)
back to the equation it would equal 1027 (rounded to the nearest dollar)
Enjoy!=)
idk if you are doing compound interest but here is simple:$1,004
you have to do 800 times 0.0425 times 6 and then add 800 to that answer.
I = Prt
you have to do 800 times 0.0425 times 6 and then add 800 to that answer.
I = Prt
