Question

Arianna is investing 6,000 to get ready for college expenses. Her bank offers an annual rate of 5. 8% per year and she plans to do this for 4 years. How much will she have saved after 4 years? Could you show work, if not its ok. Thanks

Answer 1

Ariana will have saved$7, 467.89 after 4 years

Explanation:

6,000(1+0.058/1)^(1×4)

=6,000 (1.058)⁴

=$7,467.89