Wright can invest $201219.647 amount.
The interest on a loan or deposit that is calculated based on both the initial principle and the accumulated interest from prior periods is known as compound interest (also known as compounding interest).
Given;
Initial investment P = $100,000
Years = 12
Interest rate (r) is 6%
The m in the compound interest formula = 1 (interest is compounded annually).
We want to determine your investment's future value, or FV, in order to determine how much money you will make from it.
We must enter the proper figures into the compound interest formula to count it:
We must enter the proper figures into the compound interest formula to count it:
FV = 100,000 X (1 + 0.06/1) ^ (12X1) = 100,000 X 2.01219647 = 201219.647
Wright can invest $201219.647 amount.
Learn more about the Compound interest with the help of the given link:
https://brainly.com/question/14295570
#SPJ4
