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You invested $1,000 in a savings account at the end of 7th grade. The account pays 5% annual interest. How much money will be in the account after 6 years? Round to the nearest hundredth. * 1 point
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You invested $1,000 in a savings account at the end of 7th grade. The account pays 5% annual interest. How much money will be in the account after 6 years? Round to the nearest hundredth. * 1 point

User Erdimeola
by
6.4k points

1 Answer

12 votes

Explanation:

1000 x .05= 50.

1000 + 50= 1050

1050 x 6= 6300

User Michael Cook
by
6.3k points
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