AnswersMathematics for Data and Financial LiteracyTypes of Compound Interest — QuizQuestion 5
5
QuizMultiple Choice

Types of Compound Interest — Quiz

Question 5 • Mathematics for Data and Financial Literacy

Winston invests $6,000 at an annual rate of 3.2% compounded semiannually. What will be the value of the investment after 1.6 years? A=P⁢(1+(r)/(n))^n⁢t

Answer
A
9 dollars comma 647 point 5 5
B
6 dollars comma 312 point 6 4
C
6 dollars comma 030 point 7 7
D
6 dollars comma 154 point 3 4
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