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Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly. If you leave your money for 5 years, how much will you have? Please help!
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Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly. If you leave your money for 5 years, how much will you have? Please help! Thank you

User Anewcomer
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1 Answer

6 votes
amount of money you will have = 42.54(1+6/100)^5=56.9
User Shane Cavaliere
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