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Michael deposits $1,500.00 into a savings account with an annual interest rate of 2%. How much money will he have in his account after 4 years if no additional deposits or withdrawals are made?
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4 votes
Michael deposits $1,500.00 into a savings account with an annual interest rate of 2%. How much money will he have in his account after 4 years if no additional deposits or withdrawals are made?

Michael deposits $1,500.00 into a savings account with an annual interest rate of-example-1
User Anvesh Saxena
by
7.3k points

2 Answers

5 votes

Answer:

3,804.80

Explanation:

User Shutefan
by
7.9k points
7 votes

Answer:

120 total interest

Explanation:

1500 x 0.02 =30 30 x 4 = 120

User Lukman
by
7.8k points
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