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How much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance

How much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance
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4 votes
how much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance

User Lukas S
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2 Answers

5 votes
In one year $5000 at an interest rate of 5% would earn $250 and the new balance would $5250
User Matei Florescu
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12 votes
The answer would be $5,250

You would do 5,000 x 0.05 = x
User Pjmanning
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8.0k points
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