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You deposit $300 into a savings account that pays 4% interest compounded annually. How much interest will you earn after 5 years? Question 4 options: $65 $60 $360 $365
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5 votes
You deposit $300 into a savings account that pays 4% interest compounded annually. How much interest will you earn after 5 years?

Question 4 options:

$65


$60


$360


$365

User Apurva Mayank
by
5.3k points

1 Answer

0 votes

Answer:

365

Explanation:

300X1.04^5=364.995871

User Pavel Zubkou
by
5.1k points
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