Suppose you have a $2,000 savings bond that pays 6% interest annually that matures in 10 years.  How much interest will you earn?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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  1. Suppose you have a $2,000 savings bond that pays 6% interest annually that matures in 10 years.  How much interest will you earn?

     

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