Question

You invest AED 5000 in a saving account that earns 4% interest each year. If you do not use the account for a year, how much money will you have in your account after a year?

Answer 1

5200 AED or 1404 USD

Explanation:

You have 5000 in your account. If your money grows 4% each year, it's basically like multiplying by 1.04.

5000 * 1.04 = 5200

If the question is asking in USD, the conversion rate from AED to USD is

AED * 0.27 = USD

We can substitute

5200 AED* 0.27 = 1404 USD.