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Alexandria deposits $5,000 in a savings account earning 5% interest, compounded annually. To the nearest cent, how much will be in the account after 4 years?

Alexandria deposits $5,000 in a savings account earning 5% interest, compounded annually. To the nearest cent, how much will be in the account after 4 years?
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Alexandria deposits $5,000 in a savings account earning 5% interest, compounded annually. To the nearest cent, how much will be in the account after 4 years?

User Klaus Turbo
by
8.4k points

1 Answer

4 votes

Answer:

At the end of 4 years, your savings will have grown to $6,077.

Explanation:

User Yaguang
by
7.8k points
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