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Haley opened a savings account and deposited $200 as principal. The account earns 1% interest, compounded monthly. What is the balance after 5 years?

Haley opened a savings account and deposited $200 as principal. The account earns 1% interest, compounded monthly. What is the balance after 5 years?
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Haley opened a savings account and deposited $200 as

principal. The account earns 1% interest, compounded
monthly. What is the balance after 5 years?

User EldenChris
by
9.0k points

1 Answer

3 votes

Answer:

$320

Explanation:

User Coatesap
by
7.8k points
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