Problem 2: Emilia opened a savings account and deposited $400.00 as principal. The account earns 5% interest, compounded annually. What will be Emilia's balance after 6 years? I

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asked May 22, 2022 122k views

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Problem 2: Emilia opened a savings account and deposited $400.00 as principal. The account earns 5% interest, compounded annually. What will be Emilia's balance after 6 years? I

Mathematics
college

Minboost asked

by Minboost

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1 Answer

11 votes

Answer:

520 dollars

Explanation:

5 percent of 400 is 20, over 6 years you multiply 20 by 6 giving you 120. 400 plus 120 is 520

Karthik Vishnu Kumar answered May 25, 2022

by Karthik Vishnu Kumar

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