The final amount of the compound interest after 6 years would be $ 294, 122, 500
How to determine the final amount
The formula for the final amount is given as;
[tex]A = P( 1 + \frac{r}{n}) ^n^t[/tex]
Where
A = final amount
P = principal interest
r = interest rate
n = number of times
t = time of periods
We have,
A = [tex]2500[/tex] [tex]( 1 + \frac{6}{1}) ^1^*^6[/tex]
A = [tex]2500 ( 7)^6[/tex]
A = [tex]2500[/tex] × [tex]117, 649[/tex]
A =$ [tex]294, 122, 500[/tex]
Thus, the final amount of the compound interest after 6 years would be $ 294, 122, 500
Learn more about compound interest here:
https://brainly.com/question/24924853
#SPJ1
