Verified Answer :

nobillionaireNobley

Amount earned in compound interest = P(1 + r)^n; where P is the principal, r is the rate and n is the number of periods.

Amount = 3,000(1 + 14%)^6 = 3,000(1 + 0.14)^6 = 3,000(1.14)^6 = $6,584.91

Answer:  Option 'C' is correct.

Step-by-step explanation:

Since we have given that

Principal amount = $3000

Rate of interest = 14%

Time period = 6 years

As we know the formula for "Compound Interest " :

\(Amount=P(1+\frac{R}{100})^n\\\\Amount=3000(1+\frac{14}{100})^6\\\\Amount=3000(1+0.14)^6\\\\Amount=3000(1.14)^6\\\\Amount=3000\times 2.194\\\\Amount=\$6584.91\)

Hence, Option 'C' is correct.

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