Computation the amount interest earned during the sixth year

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Reference no: EM1312082

Future value of today investment at a perticular interest over a period of years? Computation the amount interest earned during the sixth year.

Katina Washington is currently employed as a computer programmer by Megatel Company. Her dream, however, is to start her own computer software firm. To provide cash to start her own business in 6 years she will invest 10,000 today. She thinks the investment will earn a 15% annual return.

How much would Katina have in her account at the end of six years if she earns 12% on the investment? How much of this would be interest earned during the six year?

Reference no: EM1312082

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