Question

Big-Bucks Financial provides a Regional Market Growth Fund that pays you 6 percent per year. If...

Big-Bucks Financial provides a Regional Market Growth Fund that pays you 6 percent per year. If you invest $20,000 today,

  1. How much will you have in the beginning of 3rd year from now? [2 points]
  2. How much would you get if the fund pays simple interest during the three years. [2 points]
  3. How much interest you’ll get when compounding for the 3 years? [4 points]
  4. How much more interest you’ll get when compounding for the 3 years compared with simple interest?

need the formula and soloution

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