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Rita has deposited $1000 in a bank account. At the end of each year, the bank posts interest to her account in the amount of 5% of the balance, but then takes out a $10 annual fee.
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Rita has deposited $1000 in a bank account. At the end of each year, the bank posts interest to her account in the amount of 5% of the balance, but then takes out a $10 annual fee.

User Simon Meskens
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$1,040 is how much you would have remaining at the end if that's what you are looking for.
User OznOg
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