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How much money will be withdrawn from a savings account in 16 months if the initial deposit was $4.625 and the account earns 5.0% interest?
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2 votes
How much money will be withdrawn from a savings account in 16 months if the initial deposit was $4.625 and the account earns 5.0% interest?

User Pavel Tiunov
by
4.2k points

1 Answer

5 votes

4625+(4625*0.05*16)
4625+3700
=8325

$8.325

User BenL
by
5.0k points
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