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A bank account yeilds 7 percent interest, compounded annually. If you deposit $1,000 in the account, what will the account balance be after 5 years?
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A bank account yeilds 7 percent interest, compounded annually. If you deposit $1,000 in the account, what will the account balance be after 5 years?
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Apr 27, 2024
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A bank account yeilds 7 percent interest, compounded annually. If you deposit $1,000 in the account, what will the account balance be after 5 years?
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Andrea Reina
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Answer:
The account balance after 5 years will be $1402.55.
Spiff
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May 2, 2024
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