aalihasnain93 aalihasnain93
  • 19-06-2021
  • Mathematics
contestada

find the profit on 6000 for one year at 4% per annum

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HollowKnightUwU
HollowKnightUwU HollowKnightUwU
  • 19-06-2021

Answer:

240 dollars.

Step-by-step explanation:

I'd be assuming you mean the returns on interest rate after you put $6000 into the system, kind of like how you get returns after you deposit money at the bank. In that case:

[tex]6000 \cdot (1 + 4%) - 6000[/tex]

[tex]= 6240 - 6000[/tex]

[tex]= 240[/tex] dollars

Of course, you didn't say how frequently the interest rate would be compounded, so this result would be if the interest was compounded yearly.

Hope this helped!

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Flarroenix
Flarroenix Flarroenix
  • 19-06-2021

Answer:

$240

Step-by-step explanation:

4% of $6000 = $240

Answer Link

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