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

User Fanhats
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2 Answers

1 vote
first you have to add 5600×4.7%×12 all of that =$3158.4
User Larry Landry
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2 votes

Answer: 8624.00


Explanation:


User Osama Ahmad
by
8.9k points
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