Answer
Compound Amount: 10976.01
Interest: 2547.84
Work Step by Step
Compound interest table for 4.5%, 6 years is 1.3023
$8428.17\times1.3023 = 10976.01$ (compound amount)
$10976.01 - 8428.17 = 2547.84$ (interest)
Basic College Mathematics (10th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0134467795
ISBN 13:
978-0-13446-779-5
Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 454: 27
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