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You invest $5,000 in a savings account with an annual interest rate of 4%, compounded annually. How much will you have in the account after 3 years? Provide the correct dollar am…

You invest $5,000 in a savings account with an annual interest rate of 4%, compounded annually. How much will you have in the account after 3 years? Provide the correct dollar am…
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You invest $5,000 in a savings account with an annual interest rate of 4%, compounded annually. How much will you have in the account after 3 years? Provide the correct dollar amount for your answer.

User Zjuhasz
by
8.3k points

1 Answer

3 votes

Answer: $5624.32.

Explanation:

User Tsuharesu
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8.3k points
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