Question

Luke invested $110 at 5% simple interest for a period of 6 years. How much will his investment be worth after 6 years?

I got $144, but not sure if it's right.

Answer 1

how'd you get that?

Answer 2

should be 143, 110*.05*6=x

Answer 3

well if the interest compounds then it's 110 * (1.05^6), which is $147.41

Answer 4

since it says simple interest that usually means it compounds annually, as opposed to continuously