Answer:
$882.24 compound interest earned / $1,082.24 total
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
[tex]P(1+\frac{r}{n} )^{nt}[/tex]
P = initial balance
r = interest rate
n = number of times compounded annually
t = time
Now lets plug in the values into the equation.
[tex]200(1+\frac{.325}{1} )^{6}[/tex] = 1,082.24
Since we want to know the compound interest earned, just subtract 200 from 1,082.24.
1,082.24 - 200 = $882.24
