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You deposit $500 in an account that pays 4% interest compounded yearly. What is the balance after 5 years? Simplify ALL of the way and round to the NEAREST whole number

You deposit $500 in an account that pays 4% interest compounded yearly. What is the balance after 5 years? Simplify ALL of the way and round to the NEAREST whole number
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You deposit $500 in an account that pays 4% interest compounded yearly. What is the balance after 5 years?

Simplify ALL of the way and round to the NEAREST whole number

User Punit
by
8.6k points

1 Answer

3 votes

Answer:

$562.43

Explanation:

User Iblazevic
by
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