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Question 16 of 50 Jayden received a bonus check from his work for $6,000. He is going to deposit the money into a bank account that receives 5% compounded annually. The amount of interest earned after
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Question 16 of 50

Jayden received a bonus check from his work for $6,000. He is going to deposit the money into a bank account that receives 5% compounded annually.
The amount of interest earned after year 5 is:
O $7,657
O $8,421
O $7,300

User Rishit
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4.8k points

1 Answer

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Equation:

y=6,000(1.05)^5

Answer:
7657
User Josephkibe
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