Kenny has $500 in a savings account. The interest rate is 4%, compounded annually. To the nearest cent, how much will he have in 1 year?

asked Jan 14, 2022 159k views

16 votes

Kenny has $500 in a savings account. The interest rate is 4%, compounded annually.

To the nearest cent, how much will he have in 1 year?

by Pytan

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0 votes

Answer:

$520

Explanation:

500(0.04) = kenny's annual interest rate return= 20

500+20= total dollars kenny has in a year

Dylan Brams answered Jan 16, 2022

4.9k points

1 vote

Answer:

After one year Kenny will have $520.

Explanation:

Andrej Istomin answered Jan 18, 2022

4.9k points

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