Question

If you save $3,000 at an interest rate of
14 percent per year, how much will you have at the end of six years?

Answer 1

Need to know whether the interest is simple or compound (and the compounding period, if compound)

Answer 2

the formula for compound interest is \[N=No(1+\frac{ r }{ 100 })^{n}\]

Answer 3

And the question is ambiguously worded in other ways, too. Are you saving an extra 3000 dollars each year, or did you invest 3000 in a savings account and wait 6 years?

Answer 4

r=percentage
n=time eg hours years
No=initial amount