+43 Find the amount of compound interest earned from the following investment:
$6000 at 9% p.a for 4 years, compounded anually.
+33616 The final value here is given by
$${\mathtt{finalvalue}} = {\mathtt{6\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.09}}\right)}^{{\mathtt{4}}} \Rightarrow {\mathtt{finalvalue}} = {\mathtt{8\,469.489\: \!66}}$$
So final value = $8469.49
So the interest earned is
$${\mathtt{8\,469.49}}{\mathtt{\,-\,}}{\mathtt{6\,000}} = {\mathtt{2\,469.49}}$$ dollars
+33616 The final value here is given by
$${\mathtt{finalvalue}} = {\mathtt{6\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.09}}\right)}^{{\mathtt{4}}} \Rightarrow {\mathtt{finalvalue}} = {\mathtt{8\,469.489\: \!66}}$$
So final value = $8469.49
So the interest earned is
$${\mathtt{8\,469.49}}{\mathtt{\,-\,}}{\mathtt{6\,000}} = {\mathtt{2\,469.49}}$$ dollars
