Given:
Amount = $3000
Interest rate = 18% per year
A = 3000(1.18)^t
To find:
[tex]\frac{A(12)-A(6)}{12-6}[/tex]
Step-by-step solution:
We will now the value in the given expression:
[tex]\begin{gathered} =\frac{A(12)-A(6)}{12-6} \\ \\ =\frac{3000[(1.18)^{12}-(1.18)^6]}{6} \\ \\ =500[7.28-2.69] \\ \\ =500\times4.59 \\ \\ =2294.02 \end{gathered}[/tex]
From the above calculation, we can say that the average total amount between t = 6 years to t = 12 years is 2294.02
Thus we can say that Option A is the correct answer.
