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Austin opened a savings account and deposited $600.00 as principal. The account earns 5% interest, compounded annually. What is the balance after 8 years?

Austin opened a savings account and deposited $600.00 as principal. The account earns 5% interest, compounded annually. What is the balance after 8 years?
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Austin opened a savings account and deposited $600.00 as principal. The account earns 5% interest, compounded annually. What is the balance after 8 years?

User Chad Moore
by
7.8k points

1 Answer

5 votes

Answer:

$886.47

Explanation:

User Vesperae
by
7.5k points
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