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5 votes
Shay opened a new account and deposited $6000 annually

-the bank pays 5.5% interest compounded annually
-she makes no other deposits or withdrawals

Which amount is the closest to the amount of her account in 5 years
A-$7841.76
B-$7,650
C-$6,330
D-$6,155

User IoT User
by
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1 Answer

1 vote

Explanation:

amount= simple interest + money deposited

SI= PRR/100

SI=(6000×5+5.5)÷100

= 165000÷100

=1650

amount= 1560+6000=7650

User Mikael Engver
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