Gerhard deposited $5600 into a savings account that earned 4.5% simple interest each year calculated annually .What is the future value of Gerhard's account after 12 years?

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asked Jul 12, 2019 63.1k views

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Gerhard deposited $5600 into a savings account that earned 4.5% simple interest each year calculated annually .What is the future value of Gerhard's account after 12 years?

Mathematics
middle-school

Gio Borje asked

by Gio Borje

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The answer is
5600+(5600*0.045*12)=5852

Vctlzac answered Jul 17, 2019

by Vctlzac

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