If $10,000 is invested at a simple annual interest rate of 6 percent, what is th

游客2024-01-12 58

问题 If $10,000 is invested at a simple annual interest rate of 6 percent, what is the value of the investment after half a year?

选项

答案 $10,300

解析 According to the formula for simple interest, the value of the investment after 1/2 year is

=$10,000(1.03)= $10,300

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