189k views
3 votes
Shalene opened a new account and deposited $6,000.

The bank pays 5.5% interest compounded annually.
She makes no other deposits or withdrawals.
Which amount is closest to the amount in her account at the end of 5 years?
$7,841.76
$6,330.00
B. $7,650.00
$6,155.00

Hurry please

1 Answer

5 votes

Answer:

$7,650.00

Explanation:

5.5 x 5 = 27.5

turn 27.5 into a percent

6000 x 0.275 = $7,650.00

User Joubert
by
3.8k points