Bank of America offers an annual interest rate of 4%. Suppose you plan to invest $500 for 5 years.

Question

asked Jan 3, 2024 124k views

1 Answer

Joe Bane · Answer 1 · 2024-01-07T22:28:30+0000

Answer:

$609.50 after 5 years.

Explanation:

After 5 years, your investment will grow to approximately $609.50 with a 4% annual interest rate.