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PLZ HELPPPP Edgar is using compound annually , what will edgars total account balance be after leaving the money in for 5 years
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PLZ HELPPPP

Edgar is using compound annually , what will edgars total account balance be after leaving the money in for 5 years

PLZ HELPPPP Edgar is using compound annually , what will edgars total account balance-example-1
User Darren Gosbell
by
7.5k points

1 Answer

2 votes

Answer:

$6083.26

Explanation:

100+4 = 104

104/100 = 1.04

5000 * 1.04^5 = 6083.264512

User Tahir Malik
by
7.5k points
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