Question

Evan has $4,000 that he wants to put into a saving account until he leaves dor college, which will be 6 years from now. How much more money will he have in his saving account if he choose Bank B instead of Bank A?

Bank A. 4.5%

Bank B. 4.9%

please help its due
tomorrow

Answer 1

Steps:
1) 4,000 * .045 = 180
2) 180 * 6 = 1,080
3) 4,000 + 1,080 = 5,080

4)4,000 * .049 = 196
5) 196 * 6 = 1,176
6) 4,000 + 1,176 = 5,176
7) 5,176 - 5,080 = $96
Answer= $96