Register
Helga invested $1000 at 5% interest, compounded annually. What is the total amount of interest that Helga will have earned by the end of the fourth year? Express your answer to the nearest dollar.
231k views
11 votes
Helga invested $1000 at 5% interest, compounded annually. What is the total amount of interest that Helga will have earned by the end of the fourth year? Express your answer to the nearest dollar.

User Ronze
by
4.7k points

2 Answers

5 votes

Answer:

1215

Explanation:

1000(1+5divided 1000)^4 = 1215.5

nearest dollar is 1216

User Morganfree
by
4.6k points
6 votes
1000(1+5divided 1000)^4 = 1215.5
User Vandita
by
4.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.1m questions

6.7m answers

Other Questions

Pizza planet is running a special 3 pizzas for 16.50. What is the unit rate for one pizza
What number is halfway between 0 and 18
If the 9-inch wheel of cheese costs $18.60, what is the cost per square inch? If the cost is less than a dollar, put a zero to the left of the decimal point?
I need to simplify this expression.
Need answer to math problem!!!​
Link Copied!