Question

you put 5,000 dollers in an account that earns 4% intrest compounded annually . how much intrest will you have earned in 10 years?

Answer 1

$2401.22

Explanation:

Since 4% of 5000 is 200, we add 200 to our total, after 9 more 4% interest calculations, all we need to do is subtract the total by 5000.