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Imagine you have invested $800 into a savings account that earns 3.5% interest compounded annually. What is the balance of your account after 5 years without more deposits or withdrawals?
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5 votes
Imagine you have invested $800 into a savings account that earns 3.5% interest

compounded annually. What is the balance of your account after 5 years without more
deposits or withdrawals?

User Jignesh Mayani
by
7.4k points

1 Answer

6 votes
The investment figure is $968.00
User Pklimczu
by
8.1k points
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